Chargeback: A chargeback is the end
result when a merchant's credit card customer successfully disputes a
transaction that appears on their bill. Customer disputes typically
arise from dissatisfaction with the quality of merchandise or services
received, merchandise or services not received, or a questionable
Cryptography: The process of securing
private information that is sent through public networks by encrypting
it in a way that makes it unreadable to anyone except the person or
persons holding the mathematical key/knowledge to decrypt the
Dot-com: A way to refer to a company
that is exclusively an online presence rather than a bricks and mortar
Dotcom: A way to refer to a company that
is exclusively an online presence rather than a bricks and mortar store.
e-commerce: simply stated, it is doing
business online. E-comm, as it is referred to frequently, usually
required specialized software, a secure site, and the ability to process
E-support: Customer support via the
E-tail: Retail selling online
E-ticketing: Electronic ticket rather
than paper ticket is sent to you via email to print and present as proof
electronic store: A virtual mall site to
browse and buy products or services.
Encryption: The way to make data
unreadable to everyone except the recipient of the data. Encryption is
often used to make the transmission of credit card numbers secure for
those who are shopping using the Internet. Secure sites use encryption.
Merchant account: A special account
given by a bank that is a member of the Visa/Mastercard Network.
ROI: Return on investment
Shopping Cart: A software program that
runs as part of a site to collect and record purchase transactions.
SSL: Secure Socket Layer - A method of
encrypting data as it is transferred between a browser and Internet
server. Important for online payments.
Statement fee: A legitimate charge to
merchants that ranges from $10-25.00 each month.
virtual merchant: A site owner that
accepts payments online, usually refering to credit cards and electronic
checks. Requires a merchant account.
Virtual Terminal: A site that allows
merchants to take orders over the phone or mail and manually enter
credit card information without the need for an internet storefront.