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Money transfer is one of the safest ways of sending money from one account to another with just the use of a credit or ATM card. This term generally describes the activity where cash is not used as a mode of payment for purchasing something or for debt payment.

Different Types of Money Transfer:

1. Wire Transfer – this mode of transferring funds is an international bank-to-bank fund transfer in where a bank sends money to a recognized bank in another country. Continue reading ‘Innovation of Money Transfer With the Help of Technology’ »

Money transfer is one of the safest ways of sending money from one account to another with just the use of a credit or ATM card. This term generally describes the activity where cash is not used as a mode of payment for purchasing something or for debt payment.

Different Types of Money Transfer:

1. Wire Transfer – this mode of transferring funds is an international bank-to-bank fund transfer in where a bank sends money to a recognized bank in another country.

2. Electronic Funds Transfer – this term is used for cashless based payments such as the use of cards upon purchase of products from a grocery store. This is very common in major credit card bank companies.

3. Email Money Transfer – this is very common in Canadian banks in which Continue reading ‘Innovation of Money Transfer With the Help of Technology’ »

The specifications of LTO3 tape have provided opportunity to the manufacturers of LTO ultrium to offer LTO 3 tape products with incorporated feature of WORM (write once, read many). Guidelines have been established by the Government regulations like the Sarbanes-Oxley Act, Act of Health Insurance Portability & Accountability and SEC Rule 17a-4 on how much time period the data should be kept secure, retained and remain unchanged. The businesses are looking forward to adopt more affordable tape storage technologies that are capable of storing critical information for time span of ten years or more, without any alterations. LTO3 tape media technology meets these requirements of the organizations in cost efficient manner. The WORM functionality in the LTO 3 tape products have successfully addressed the needs of its customers for long term and cost efficient data archiving. The specifications of LTO third generation includes co-existence of non-WORM and WORM enabled backup tape drive. Implementation of LTO program has provided the organization with a highly durable and low cost means of storing valuable information in non-erasable and non-alterable format.

LTO 3 tape technology is the best cost effective choice for data archiving up to several decades. CM (cartridge memory) is also included in the LTO3 ultrium tape cartridge which is used by the robust algorithms. The specific design of cartridge memory helps in preventing tampering.

Continue reading ‘New LTO3 Tape Technology’ »