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. In the 30's of the twentieth century, Western Union has become the world's largest telegraph company. The Western Union Company is a financial services and communications company based in the United States. Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders.