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. As a result of 2011, net income of Western Union has increased by 28% to $ 1.165 billion, the company reported. In order to increase competitiveness and market expansion of its services, Western Union launched a program of loyalty Western Union Gold Card for customers, who has repeatedly made money transfers via Western Union. The Western Union Company is a leader in global payment services In 1914 Western Union engineers invented the first payment card - a prototype of the modern credit card.