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. 1998 - the number of points of money transfers worldwide reached 50,000. The network of money transfers of Western Union is the world's largest. July 3, 1884 the company's shares were included in the calculation base for the newly created stock index Dow Jones Transportation Average. The Western Union Company is a financial services and communications company based in the United States.