E-commerce

Privacy Policy

A Web site's official statement on the type of information collected on a site, how the information will be used, how the person can access this data and the steps for having the data removed. A privacy statement will also usually include information regarding systems that are in place to protect the information of web site visitors.

Certificate Authority

A third party company that issues digital certificates that confirms a company or individuals' identification. A digital certificate is a crucial part of secure e-commerce.

Informediary

An online resource that collates data from a variety of sources and acts as a middleman between those distributing the information and people who want the information.

Marketspace

Commerce conducted via the Internet; a virtual marketplace; also called electronic marketspace

User Session

Each visit to a web site by one person. The session is usually "ended" when all pages have been closed or after a specific time of inactivity.

Privacy Seal Programs

Independent organizations that verify if an online companies' Privacy Statement is verifiable and accurate.

Encryption

Process of transforming data into a type that prevents casual observers from deciphering.

TurnKey

Refers to an application that with very few adjustments is ready for use, such as a remotely hosted shopping cart service.

Cookies

Small text files stored on your computer when visiting a site that records preference for that particular site's usage. These files are also common in shopping cart applications in order to remember visitors as they move throughout product pages. (Session cookie - Temporary cookie stored in a computers memory for remembering preferences during a web site visit that is flushed on leaving the site.)

Shareware

Software that is distributed at no cost that can be used for free for a specific period of time or under certain circumstances to allow evaluation.

Shopping Cart

Software that keeps track of multiple items a visitor picks to buy from your site until they proceed to the "checkout". A shopping cart can calculate the total, tax, and shipping costs of an order, in addition to collecting customer account and shipping information.

Firewall

Software/hardware used to prevent unauthorized access from a computer system or network of computer systems.

Secure Servers

Special servers that utilize encryption to prevent unauthorized users from intercepting and reading a message that passes through its system.

SOHO

Stands for Small Office/Home Office and refers to a specific group of people who work from home or very small companies.

Uptime

The amount of time a web site is available. The industry benchmark at this point in time for availability is 99.99%.

B2B (Business to Business)

The exchange of goods and services between businesses.

B2C (Business to Consumer)

The exchange of goods and services with the end consumer being the target market.

Merchant discount rate

The rate that a business is charged for debit and credit card services provided by its merchant account

E-tailing

These are mainly "virtual" storefronts which act as a catalogue of products of merchants and usually include a "shopping cart" system to enable consumers to purchase online with the use of credit cards.

MIDS (Merchant Identification Number)

Unique merchant identification number that is used in conjunction with all transactions.

Gateway

Used in ecommerce to act as an interface between a merchant and a bank; i.e., a Payment Gateway.

Online Payment service

Using the 3rd party processor's merchant account. The three most popular OPSs are: PayPal, Check out with Amazon, and Google Checkout.

WYSIWYG

What You See Is What You Get. An application that displays how the resulting page will look as it is being developed by the user in which the screen displays what the end result will look like, while the document is being created or modified.

E-Check

An E-Check is a form of payment that deducts funds directly from your own standard checking account. E-checks work just like paper checks. E-Check services are usually managed by third party companies that interface with a number of different banks. An e-check provides a more fraud resistant option in terms of ecommerce transactions.

Merchant Account

A type of business bank account that allows a business to accept and process debit and credit card transactions. Merchant accounts are necessary accounts for many businesses, and are essential for online businesses. With a traditional merchant account, your business has a direct relationship with Visa and MasterCard through your credit card processor.

E-commerce

The buying and selling of goods, services or information via the World Wide Web, email or other pathways on the Internet. E-commerce and E-business are interchangeable terms.

CRM (Customer Relationship Management)

The entire process of a pre-sales, sales and service relationship with a customer. Many software applications are now available that permit you to record this relationship from the time the clients asks their first question. Good CRM software is much more efficient than fragmented records as it can save time in tracking communications and transactions with a particular person.

Branding

The process involved in creating a unique name and image for a product in the consumers' mind, mainly through advertising campaigns with a consistent theme. Branding aims to establish a significant and differentiated presence in the market that attracts and retains loyal customers.

Mobile Commerce (M-commerce)

The use of wireless handheld devices such as cellular phones and laptops to conduct commercial transactions online. Mobile commerce transactions continues to grow, and the term includes the purchase and sale of a wide range of goods and services, online banking, bill payment, information delivery and so on. Also known as m-commerce.

Chargeback

Where a transaction is debited against a merchant account in cases of refunds and fraud. The transactions usually attract a fee that is debited against the merchant.