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eCommerce Jargon Translator

Affiliate

An affiliate is an individual or company that promotes products and services for a merchant, in return for a commission.

eCommerce

eCommerce can be generally defined as:

  • The buying and selling of goods and services over the Internet
  • The transfer of funds through the Internet

Checkout ProcessRefers to the process a customer must go through to purchase a product or service from your website.

Conversion Rate

Conversion rate refers to the percentage of visitors who take the desired action. From an eCommerce perspective, this means the number of browsers to your site who convert into buyers.

Internet Merchant Account

An Internet merchant account is an account created by a bank or financial institution to receive online credit card payments.

Manual/Offline Transaction

A transaction which is processed offline after an order has been received. For example, a merchant may receive an order via telephone, mail order or email and process the transaction with an EFTPOS terminal.

Payment Gateway

A payment gateway charges your customers credit cards via the web and sends the funds to your merchant account.

Payment Processor 3rd Party

Third-party processing services are basically a payment gateway and merchant account rolled into one.

The difference is a payment processor does not require you to have an Internet merchant account and can settle funds to a regular bank account.

Privacy Policy

A Privacy Policy is a disclaimer placed on a website informing users about how the website collects and stores a user’s personal information.

Real Time Transaction

A ‘real-time’ transaction is one that is processed immediately (as opposed to a manual transaction which is processed offline after an order has been received).

Shopping Cart Software

A shopping cart is a system that enables you to sell your products and services on the web.

SSL Encryption / Secure Server

SSL stands for Secure Sockets Layer and is a system for securing and transferring private information via the Internet.

SSL works by encrypting your data and transferring it over a secure connection. 128 bit is the industry standard and refers to the level of protection a website offers.

Terms & Conditions

Terms and Conditions on your website specify:

  • How visitors can use your website: For example you may state that the user agrees not to copy any materials on the site.If your website is only suitable for adults you may state that users have to be 18 and over to use the site.
  • Purchase Policies: You should clearly state any purchase policies including warranty, shipping, refunds and returns.

Anything else of significance, including waiver of warranties, limited liability, indemnification, grounds for termination of service, etc.

This entry was posted on Friday, February 27th, 2009 at 12:10 pm and is filed under Company, Faqs, Portfolio,Services, Web application, Web design. You can follow any responses to this entry through the RSS 2.0 feed.

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