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E commerce terminology and definitions
 

E commerce terminology and definitions

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    E commerce terminology and definitions E commerce terminology and definitions Document Transcript

    • Ecommerce terminology Definitions of e-commerce :-is simply the buying and selling of goods,services or information via the World Wide Web, email or other pathways on theInternet. ECommerce and Ebusiness are interchangeable terms. As with any otherindustry, ecommerce has introduced new terms into our language. The following aredefinitions of the more widely used terminology relating to ecommerce, followed bylinks to other related tutorials and learning resources on Taming the Beast.net.B2B (Business to Business)The exchange of goods and services between business.B2C (Business to Consumer)The exchange of goods and services with the end consumer being the target market.ChargebackWhere a transaction is debited against a merchant account in cases of refunds and fraud.Chargebacks usually attract a fee that is debited against the merchant.Certificate AuthorityA third party company that issues digital certificates that confirms a company orindividuals identification. A digital certificate is a crucial part of secure ecommerceCobrandingWhere two companies identify a partnership between them through one companydisplaying their logos, color schemes etc on another companies application.CookiesSmall text files stored on your computer when visiting a site that record preference forthat particular sites usage. Cookies are also common in shopping cart applications inorder to remember visitors as they move throughout product pages.CRM - Customer Relationship Management.
    • The entire process of a pre-sales, sales and service relationship with a customer. Manysoftware applications are now available that permit you to record this relationship fromthe time the clients asks their first question. Good CRM software is much more efficientthan fragmented records as it can save time in tracking communications and transactionswith a particular person.EDI (Electronic Data Interchange)This is the business to business (b2b) flow of information between companies or within acompany itself. The 90s saw the concept of information equaling power. Whatevercreates power also generates money and therefore creates new enterprises to supply thisinformation.EncryptionProcess of transforming data into a type that prevents casual observers from deciphering.EtailingThese are mainly "virtual" storefronts which act as a catalogue of products of merchantsand usually include a "shopping cart" system to enable consumers to purchase online withthe use of credit cards.FirewallSoftware/hardware used to prevent unauthorized access from a computer system ornetwork of computer systems.GatewayComputer that allows communications between networks one network with another.Used in ecommerce to act as an interface between a merchant and a bank; i.e., a PaymentGateway.InfomediaryAn infomediary is an online resources that collate data from a variety of sources and actsas a middleman between those distributing the information and people who want theinformation.Luhn algorithm
    • The LUHN algorith is used for credit card number generation and validation.ECheckAn E-Check is a form of payment that deducts funds directly from your own standardchecking account. ECheck services are usually managed by third party companies thatinterface with a number of different banks. An check provides a more fraud resistantoption in terms of ecommerce transactions.Merchant accountA special account account where money from credit card sales is first routed to and heldbefore transfer to your own business account. This process is usually fully automated inecommerce transactions. Money may in real-time or during various points in a 24 hourperiod. A merchant account is a crucial part of ecommerce.Merchant Identification Number (MIDS)Unique merchant identification number that is used in conjunction with all transactions.Out of the boxRefers to an applications suitability to be rapidly integrated into an existing systemP2P (Peer-to-Peer)Process whereby computers can trade information between each other directly withoutthe assistance of a third party network.Payment thresholdThe minimum accumulated commission an affiliate must earn to trigger payment from anaffiliate program.Privacy policyA Web sites official statement on the type of information collected on a site, how theinformation will be used, how the person can access this data and the steps for having thedata removed. A privacy statement will also usually include information regardingsystems that are in place to protect the information of web site visitors.Privacy seal programs
    • Independent organizations that verify if an online companies Privacy Statement isverifiable and accurate.ScalabilityThe ability and flexibility of an application to meet growth requirements of anorganizationSecure serversSpecial servers that utilize encryption to prevent unauthorized users from interceptingand reading a message that passes through its system..Session cookieTemporary cookie stored in a computers memory for remembering preferences during aweb site visit that is flushed on leaving the site.SharewareSoftware that is distributed at no cost that can be used for free for a specific period oftime or under certain circumstances to allow evaluation.Shopping cartSoftware that keeps track of items a visitor picks to buy from your site until they proceedto the "checkout".SLA (Service Level Agreement)Used in many merchant/institution and merchant/consumer transactions to define theboundaries of what the service is committed to deliver and under what circumstances.SSL (Secure Socket Layer)A secure protocol that ensures the integrity of information that is transmitted via thismeans.UptimeThe amount of time a web site is available. The industry benchmark at this point in timefor availability is 99.99%.
    • SOHOStands for Small Office/Home Office and refers to a specific group of people who workfrom home or very small companies.TurnkeyRefers to an application that with very few adjustments is ready for use, such as aremotely hosted shopping cart service.User sessionEach visit to a web site by one person. The session is usually "ended" when all pageshave been closed or after a specific time of inactivity.Vortals (vertical industry portals)Online resources that are gateways to specific industry related information.WYSIWYGWhat You See Is What You Get. An application that displays how the resulting page willlook as it is being developed by the user in which the screen displays what the end resultwill look like, while the document is being created or modified.