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. The presence of Western Union Gold Card at the client greatly simplifies the process of further processing of money transfers of and reduces the operation time for the sending of money, as the "Gold Card" is a carrier of the personal information about the client. In 1935, Western Union has put into operation first intercity fax communication. Each money transfer is protected with control number, that allows you to track and to ensure prompt payment of money specified by you person. One of the common kinds of money transfer is a transfer via the international system of Western Union. In 1991, Western Union has sold some low-profit division of the company AT & T, GM Hughes Electronics, and to some others. In the same year the company changed its name to New Valley Corp. 1970 - a new service called The Western Union Company is a financial services and communications company based in the United States. In 1856, in 7 years after the foundation of New York State Printing Telegraph Company, the company changed its name to Western Union Telegraph Company.