In 1988, the company undertook a massive reorganization in response to rapidly changing business conditions. In particular, this need has arisen due to many technological changes that have taken place at that time. Company name was changed from Western Union Telegraph Co. to Western Union Corp. Another invention of Western Union - time synchronization. Payment systems are one of basic elements of infrastructure of e-commerce. 1970 - a new service called In October 1871 the company Western Union began to provide money transfer services, drawing on its own extensive telegraph network.