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. In 1860 the U.S. Congress arranged among the telegraph companies a competition to create a national line. The winner was Western Union. Western Union offers one of the easiest ways for families and friends to send money and stay connected almost anywhere in the world. As a result of 2011, net income of Western Union has increased by 28% to $ 1.165 billion, the company reported. Western Union has several divisions, with products such as person-to-person money transfer, money orders, business payments and commercial services. In 1935, Western Union has put into operation first intercity fax communication. Payment systems are one of basic elements of infrastructure of e-commerce. You do not need to open a bank account, so you can send or receive money in any of the 170 000 service points of Western Union around the world. 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.