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. 1980 - for the first time in the history of Western Union revenues from money transfers exceeded the income from the telegraph service. Another invention of Western Union - time synchronization. In October 1871 the company has implemented the world's first telegraph money order. After a century money transfers have become a major source of income for Western Union.