Web Terms Glossary

Data Encryption Standard

The process of subtracting from the balance of an account.

When permission to perform a particular action has been declined.

The process of converting encrypted data or text back to plain data or text.

The transfer of data from a host computer to a client computer over a network, in this case, the Internet.

A bank account, such as a checking account, that allows the holder to withdraw funds or use funds for payment upon demand.

An ATM bankcard. This type of card allows a merchant to deduct money directly from a customer's bank account.

Money, in the form of information, that can be stored in electronic wallets or on smart cards. Digital cash systems have been designed for use on the Internet for so-called "micropayments" - payments for goods that are too inexpensive to be paid for by credit cards

A digital certificate is a special kind of message that contains information about who it belongs to, who it was issued by, a unique serial number or other unique identification, valid dates, and an encrypted "fingerprint" that can be used to verify the contents of the certificate. Digital certificates are issued by trusted third parties, known as Certificate Authorities. The public key of the ecBuilder merchant's digital certificate is used to encrypt the shopper's order information before it is emailed to him.

A way to ensure whether a message was actually sent by the person who claimed to have sent it. The sender's private key encrypts the signature, and the recipient decrypts the signature with the sender's public key. Digital signatures use public key cryptography and work in conjunction with certificates

A percentage rate that is charged by the acquiring bank for processing a merchant's transaction. The type of business and/or how the credit card is processed usually determine this rate. Retail based transactions, also known as Card Present transactions are assigned lower discount rates than MO/TO, also known as Mail Order/Telephone Order, Internet, or Card Not Present transactions.

An arrangement whereby a mail-order or Internet merchant accepts orders for products, and then pays a manufacturer or distributor to ship the product to the customer.