Glossary
Online payment
glossary.
Key terms and definitions for online payments and e-commerce.
- Online Shop
- A website where customers browse products and make purchases. Also called an e-commerce website.
- Internet Merchant Account (IMA)
- A specific bank account allowing a business to accept credit and debit card payments online. Required in addition to a standard business account.
- Virtual Payment Terminal (TPV)
- Software allowing merchants to accept card payments via a web interface, without physical card-present hardware.
- Chargeback
- A forced reversal of a payment initiated by the cardholder's bank when a transaction is disputed. Costs the merchant the amount plus fees.
- Check Out
- The process by which a customer finalizes their purchase — confirming the order, entering shipping details, and completing payment.
- CVV2
- Card Verification Value 2. The 3- or 4-digit security code on a bank card. CVV2 codes are never stored by Cashtronics.
- IPSP
- Internet Payment Service Provider. A company providing the technical infrastructure to process payments between merchants, customers, and banks.
- Gateway
- Technology that securely transmits transaction data between your website, the payment processor, and the bank. Cashtronics Gateway uses SSL 128-bit encryption.
- Shopping Cart
- Software allowing customers to select and hold items before proceeding to checkout.
- SSL (Secure Socket Layer)
- A security protocol establishing encrypted links between web server and browser. Ensures data remains private.
- Refund
- A transaction initiated by the merchant to return a payment to the customer. Managed through the Cashtronics back-office.