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E-Glossary
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E-commerce is a general concept covering any business transaction executed electronically between parties such as companies
(business-to-business), companies and consumers (business-to-consumer), consumers and consumers, business and the public
sector, and between consumers and the public sector.
Electronic commerce comprises electronic trading of goods and services and falls into two categories:
 Indirect e-commerce: electronic ordering of tangible goods; the actual goods are delivered in a traditional form (ie: USPS, etc.)
Direct e-commerce: electronic ordering and delivery of intangible goods (electronic material ie: memberhsips, games, softwares, etc.)
Even though e-commerce predates the Web for some time, it is the Web technology and its general access towards open network standards that today are the driving forces of e-commerce and that have
put it on the global agenda. Historically, before e-commerce existed on the Internet, it was used mainly for business-to-business transactions in different forms of closed networks.
For the consumer, it is easy to appreciate the importance of e-commerce. Why waste time fighting the very real crowds in supermarkets, when, from the comfort of home, one can shop on-line at any time in
virtual Internet shopping malls, and have the goods delivered home directly.
For business, e-commerce offers enormous opportunities. It allows to trade at a low cost world-wide and it offers enterprises the chance to enter a global market right
from start-up.
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A
Acquirer or acquiring bank
The institution/organization where a merchant has an account
to process transactions and credit payments.
aggregator
This is a e-commerce business model in which the website sells
products or services which it does not produce or warehouse. Rather, an Aggregator creates an environment where
multiple providers (sellers) must compete on terms determined by the use.
AT&T Mondex
Unlike most e-cash systems, AT&T Mondex was developed not for
the Internet but for the traditional, "offline" world, and is backed by MasterCard and AT&T. Customers get a
smart card (a credit card sized device that contains a computer chip) which keeps track of how much money it
contains. Smart cards use a reader much like traditional credit and ATM cards. When you swipe the smart card
through the reader the value is directly transferred to the merchant's reader, almost as if you were taking the
money from your wallet and handing it over. One disadvantage is the requirement for a reader.
authenticated
Established as being a genuine user or verifying the identity
of a user.
authorization
The process where permission is granted by the card issuer
(the financial institution) allowing the payment transaction to proceed. During this process the issuing
bank checks that the card's available credit hasn't been exceeded.
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B
batch
A collection of captures and credits accumulated over a
particular period (usually a day or less), which are waiting to be settled with the merchant's acquiring
financial institution. "Batch close" is the process of sending the batch to the financial institution for
settlement. "Batching" or organizing many files into a single group for transmitting tends to increase the
efficiency of the data transmission.
browser
The software or "interface" through which users view the Web.
A Web browser retrieves, displays and prints webpages and their contents.
business-to-business communications
The marketing of products from one business to another. These
products are needed to make other goods and/or provide services.
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C
cache
An area of your computer memory or directory on your hard disk.
This is the place where your browser stores webpages you have already viewed. Then when you return to a page, the
browser can grab this page from the cache, which is far quicker than downloading its elements from the Web again.
This can save a lot of time, but remember that if you return to a page that changes a lot, you might need to click
the "Reload" button on your browser to get the latest version instead of the cached one.
capture
The procedure for a previously authorized transaction once the
merchant has shipped goods or services to the customer. The transaction triggers the movement of funds from the
issuer to the acquirer and then to the merchant's account.
catalog
An online store usually needs to display individual products.
So a catalog refers to how the products are classified and displayed online, often in searchable databases - and
sometimes echoing the traditional printed catalogs for the same products.
certificate
A document designed to address security issues such as
authentication and non-repudiation when executing e-commerce transactions. The certificate contains information
about the issuer, the certificate's owners, a public key, the period for which the certificate is valid, and
the host to whom the certificate was issued. The token is designed in such a way that none of its details can
be changed without invalidating the digital signature.
cookies
Cookies are text files that are stored at the client's hard
drive. When a browser requests a document, the web server creates a fragment of data, which is sent to
the browser and stored at the client's computer. Afterward, when the browser solicits another
document, the cookie is sent with the request. Cookies are very similar to the caller id boxes that have
become so popular in that they provide telemarketers with such relevant information as: the consumers name,
address, and previous purchase payment record.
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D
database
A sort of electronic filing system - a collection of information
organized in such a way that a computer program can quickly select desired pieces of data.
data warehousing
Systems for storing, managing and retrieving large amounts of
data, such as recent snapshots of corporate data. Data warehousing software often includes advanced compression,
filtering and "hashing" techniques for fast searches.
decryption
The process of making a secure, encrypted file readable as plain
text.
digital receipt infrastructure (DRI)
This enables customers and organisations to prove that
electronic transactions and events actually took place, by providing a "digital trail", a sort of online
equivalent of a paper trail.
digital signature
Digital signatures, like written signatures, are a method of
authenticating the source of a document and/or its author. A common form of digital signatures are digital
certificates, whereby the issuing company vouches for you and gives you a unique identification that can be
verified by a merchant prior to accepting an order.
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E
Electronic Data Interchange (EDI)
The automated, electronic flow of business information between
organizations without human intervention. This information is integrated with and flows into and out of the
organizations' respective business management systems.
EDI management software
Software that translates business data between internal formats
and standard formats (such as ANSI X12 and UN/EDIFACT).
Electronic Funds Transfer (EFT)
Systems and technologies that processes financial transactions
and transfers funds (money) electronically between two financial institutions. Includes Fedwire, Bankwire,
automated clearinghouses (ACHs), and other automated systems.
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F
Federal Trade Commission (FTC)
Federal agency empowered to prevent persons or corporations from
using unfair methods of competition in commerce. They are now involved with monitoring commerce on the Internet,
especially with regard to its growth, content, and potential for fraudulent activity.
file transfer protocol (FTP)
This allows you to transfer files between computers via the
Internet. For example, after you have been using your own PC to work on files for your website, you would use
FTP to move the finished files from your (local) machine to the (remote) web server.
Frequently Asked Questions (FAQ)
Documents that list and give answers to the most common
questions on a particular subject (this could be anything from a particular software product to an email mailing
list, a company, etc). A very handy and much-used format for giving information to website visitors.
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G
gigabyte
A gigabyte (or 1 Gb) is equivalent to about a billion bytes of
data.1 Kb = 1,024 bytes
1 Mb = 1,024 Kb (= 1,048,576 bytes)
1 Gb = 1,024 Mb (= 1,073,741,824 bytes)
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H
HTML
Hypertext Markup Language (HTML) is used to create documents for
the World Wide Web. These documents are referred to as hypertext documents. They are marked with special tags
that give commands that direct the size, shape, colouring, and placement of text, graphics and sound on the web
page, as well as integrating the static page with dynamic content such as Java applets.
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I
Internet service provider
Or access provider. A company which provides its customers
with access to the Internet. The user normally connects to the access provider's computer via a modem, using
a "dial-up connection".
IP (Internet Protocol) address
A unique number which is used to represent every single computer
in a network. All the computers on the Internet have a unique IP address. To the Internet, a given server's IP
address is given in terms of numbers and dots, in the format, 000.000.000.0. IP numeric addresses also have a
more easy-to-use textual representation (e.g. www.ecx.com or www.qc123.com).
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J
No definitions currently available.
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K
Kbps
Kilobits per second, a measure of data throughput - very
important when you are considering how fast one of your webpages will download on a medium to fast modem. For
example, a 28.8 Kbps modem will transfer data at about 3.6K (or kilobytes) per second.
kiosk
A small standalone stall and PC (or PCs) set up in a public
place for disseminating information (e.g. tourist info). The data may be stored locally (e.g. on a CD-Rom) or
accessed via the Web.
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L
No definitions currently available.
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M
megabit
A data measurement, approximately one million bits - but thanks
to binary arithmetic (the mathematics that computers understand) it is really worth exactly 1,048,576 bits.
megabyte
A common measurement of digital storage capacity. Your web
team will need to keep an eye on the megabytes, in terms of the sizes of your webpage graphics and other files,
the storage space of the server (the computer which holds your website), and the speed of the Internet
connection between your customer and your site. One megabyte (or 1 MB) is equal to approximately 1 million bytes
(1,048,576 bytes). A typical floppy disk holds about 1.44 MB of data, while a CD-ROM can hold over 600 MB of
data.
The basic unit of measurement is a bit. If you are offering visitors to your site a 1 MB file to download, for a
customer using a modem with a speed of 28,880 bps (or bits per second) this can take about 10 minutes to download.
merchants
Online retailers.
META tags
META tags are another html tag which give "behind the scenes"
information. The most common use of the META tag is to define keywords for search engines by which the author
of the webpage suggests their website to be indexed. Another META tag allows for the webpage author to
offer a description of the webpage for the search engines to use.
micro payments
Micropayments consist of digital coins, currency, and coupons
that assist merchants and consumers in their attempt to conduct secure transactions on the web. Digital
payments contain encrypted information about the customer that allows the corporation to track that customer's
spending patterns, as well as provide a safe platform for business transactions.
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N
No definitions currently available.
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O
online shopping
Browsing and buying on the Internet from the comfort of your
home.
OS
The OS (operating system) is the overall software for running
your personal computer or server (e.g. Windows, DOS, UNIX).
online shopping mall
Online stores that are grouped together much like a physical
"mall" or shopping center, where a person can go to many stores and browse for different types of products in
the same website.
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P
password
A secret word or phrase used to identify oneself when permitted
to enter a place or have access to gain information.
proxy
A form of security on the Internet. When you use a proxy or
"proxy server", your computer sends a request to a server on the Internet via this proxy. For the server it
looks as though the request is coming from the proxy, not from your machine.
point of sale
In the physical world, the specific point at which a product is
paid for and delivered. Online, this often refers to the software that enables the merchant to accept online
transactions and conduct follow-on transactions with their financial institution.
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Q
No definitions currently available.
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R
No definitions currently available.
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S
search engine
Any of several databases available on the Internet that allow
users to find websites based on words included on those pages. Some, such as Alta Vista and Infoseek, are
huge indexes. While a large size obviously allows the user to find a larger number of sites, the downside is
that sometimes one may find it difficult to narrow their search to a manageable number of site selections (say
down to several hundred rather than several thousand choices).
Secure Electronic Transaction (SET) protocol
Proposed by MasterCard and Visa, SET is another standardized
protocol for processing electronic transactions.
Secure Sockets Layer (SSL)
SSL was designed by Netscape for use in electronic commerce
for transactions involving confidential information such as credit card numbers. Secure Socket Layer uses a
system of public and private key authentication combined with other schemes to verify electronic signatures.
The ability to conduct secure and confidential transactions over the Internet is critical to the success of
electronic commerce.
Security and Exchange Commission (SEC)
The SEC is an independent, nonpartisan, quasijudicial regulatory
agency with responsibility of administering the federal securities laws. The purpose of these laws is to protect
investors in securities markets that operate fairly and to ensure that investors have access to disclosure of all
material information concerning publicly traded securities. The Commission also regulates firms engaged in
the purchase or sale of securities, people who provide investment advice, and investment companies.
shopping cart
The way most online companies keep record of what you have picked
while browsing in their online store. Just as in a physical store you can put in and take items out of your shopping
cart before you actually buy it.
signature
A block of information used to sign the end of an e-mail or
discussion group message. It usually includes an author name, company name, e-mail address, and other
information. Most Unix mail and news software will automatically append a signature from a file in the user's
home directory to outgoing mail and news. The composition of one's signature can be quite an art form,
including an ASCII logo or one's choice of witty sayings.
storefront design
The way a website is designed to be shown to the public.
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T
traffic
Generally refers to the number of visitors a site receives.
Since that's a number that can be tracked in many different ways, site marketers usually choose to put their
best stat forward (pageviews, visitors, impressions or hits).
trademark
The exclusive right to use a brand or part of a brand. Others
are prohibited from using the brand without permission.
transaction
The actual process of buying an item or store.
transaction layer security
Microsoft and Netscape jointly developed this converged protocol,
a revision of SSL which offers increased security mechanisms within the protocol.
transaction fee
A charge for each credit card transaction, collected by the
merchant account provider or ISO. Transaction fees usually fall between $0.20 and $1 (U.S.).
transfer of risk
Vendors accept a certain discount on the amount owed in return
for transferring the payment risk to the credit card issuer. This same concept applies throughout the entire
system of commerce, electronic or otherwise.
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U
Uniform Rules of Conduct for the Interchange of TradeData by
Teletransmission (UNCID)
A set of standard rules of conduct for the exchange of trade
messages using EDI or other electronic means. UNCID was developed by the International Chamber of Commerce in
Paris.
URL
Uniform Resource Locator - often a Web address. A URL is the
location and access method of a resource on the Internet. It identifies a particular Internet resource - for
example a webpage, a library catalogue, an image, or a text file. The URL or address of a webpage is really
quite simple and orderly when you get used to it. It has three main parts (in this order): the http bit; the
location on the Internet of the machine which holds the resource; where in the machine to find it.
user ID
A unique combination of numbers and letters used to identify a
user by a server.
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V
vendors
Companies or people that sell products or services.
virtual store
Commercial websites that allow people to browse the products like
a person would browse the aisles in a physical store.
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W
web master
The person or team who is responsible for looking after a
particular website.
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X
No definitions currently available.
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Y
No definitions currently available.
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Z
No definitions currently available.
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