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 Western Union Company - the American company, specialising on granting of services of monetary intermediary. Western Union was founded in 1851. The company is one of leaders in the market of the international remittances. In 1920, Western Union has implemented the world's first transmission of images over the ocean. Western Union has several divisions, with products such as person-to-person money transfer, money orders, business payments and commercial services. 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. In the early 60s Western Union has put into operation transcontinental microwave system of data transmission via radio waves, completely replacing the web of telegraph poles and wires. Payment systems are one of basic elements of infrastructure of e-commerce.