Authorization verification service: The Address Verification System (AVS) is a feature available to merchants that accept credit cards for the purpose of verifying that the cardholder's address and ZIP Code provided at the time of the transaction "match" the actual address as registered with the cardholder's card issuing bank. It is intended to help the merchant make an informed decision at the time of purchase whether or not to accept a person's credit card.
Batch: A collection of credit card transactions saved for submitting at one time, usually each day. Merchants who do not have real-time verification systems must submit their transactions manually through a POS terminal. Batch fees are charged to encourage a merchant to submit his or her transactions at one time, rather than throughout the day.
Browser: A software package used for locating, requesting and displaying web pages. Examples include Netscape Navigator, Microsoft Internet Explorer, and Lycos.
Database: A file or file system containing organized
information and, most commonly, a filing and retrieval system for storing
information. Most database software also includes tools for data analysis.
Examples of database software include Oracle, Sybase, and Microsoft Access.
Discount rate: This is the percentage of the total transaction amount
that the bank will usually deduct prior to transferring your deposit into
your bank account. Typical discount rates range from 2.5% to 5%, depending
on your type of business and other factors.
DNS server: DNS stands for Domain Name Server. These are the servers that match up a fully qualified domain with the proper IP address. This is necessary because computers only understand the IP address for your domain (e.g.- 123.45.678.90).
Domain: A domain is the web address (URL) that customers use to find your Web Store: eg: www.YourCompany.com Ecommerce: the processing of economic transactions, such as buying and selling, through electronic communication. E-commerce often refers to transactions occurring on the Internet, such as credit card purchases at web sites.
Encryption: The basis of network security. Encryption encodes network packets to prevent anyone except the intended recipient from accessing the data.
EDI: Acronym for Electronic data interchange. It allows companies to place orders, bid on projects, and make payments over the internet or private networks.
Enterprise: Large companies (employees>10,000)
FTP: File Transfer Protocol - an application program that uses TCP/IP internet works as a medium for transferring files. You can logon to an ftp site using an ftp program and transfer files from their site to your local desktop using a GET command.
HTML: Acronym for hyper text markup language. It is a set of code used in the building of a web page. It determines how a web page will appear, which includes graphics, links and text characteristics.
ISP (Internet Service Provider): A firm that provides access to the Internet, including email and web browsing. ISPs often offer connections that can be accessed by dialing a telephone number through your computer's modem.
IP address: The Internet Protocol address is the standard way of identifying a computer that is connected to the Internet. The IP address consists of four numbers separated by periods - each number is less than 256.
InterNIC: Internet Network Information Center, a key source of Internet information and directory services as well as registration of domain names. AT&T Corp. runs the database and directory services, while Network Solutions, Inc., is responsible for domain name registrations.Call voice (703)742-4777 for Network Solutions Inc.
Link: A hypertext code that allows people to move from one document to another by using the mouse to move the cursor to the link, and clicking the mouse button.
Merchant accounts: A special account provided by a bank that is a member of the Visa-MasterCard association. Once the merchant has his merchant account set up, he can accept credit card information from customers.
Merchant Bank: A bank that holds the merchant account. After a consumer buys a product using a credit card, the merchant bank places funds into a merchant account in exchange for the right to collect on the debt owed by a consumer.
Merchant Account Provider (MAP): A bank or other institution that hosts merchant accounts and processes online credit card transactions. The term is also often used broadly to include any credit card processing service
Monthly Fees: These are fees charged for other account related services, such as customer service, your monthly statement, network access fees, and minimum monthly fees.
POP3: Post Office Protocol - an alternative mail protocol used to service intermittent dialup connections to the Internet whereby mail is held until the caller makes the connection and requests mail. Eg: PC Eudora.
Point-of-sale (POS): Credit cards, debit cards and checks are processed in the traditional way where the merchant swipes the card in the terminal and the terminal completes the rest of the transaction.
PC: Acronym for personal computer.
Real-Time Processing: The verification and processing of credit card transactions immediately following purchase. Real time verification on the Web usually takes less than five minutes. Real time verification is especially important for web sites that sell products and services that consumers expect immediately, such as memberships to the site or software downloads.
Secure Server: A web server or other computer connected to the Internet that is capable of establishing encrypted communication with clients, generally using SSL or SET.
SSL: A system for encrypting data sent over the Internet, including e-commerce transactions and passwords. With SSL, client and server computers exchange public keys, allowing them to encode and decode their communication.
Shopping cart: A software package that runs as part of a web site to collect and record purchasing decisions by a visitor. Shopping cart programs are stored on web servers.
Transaction Fees - This is a flat amount that you pay for each transaction. Typical transaction fees range from 30 cents to 50 cents per transaction.
Volume: Total amount of sales
Virtual Terminal: Allows merchants who have internet access to take orders over the phone or mail and manually enter credit card information without the need for an internet storefront.
Virtual Web Hosting: A concept wherein a merchant’s web site is downloaded onto a high performance server of a hosting company and thus visible to millions of people. This avoids the merchant having to buy his own server and hosting his own web site.