E-Commerce words Glossary
There are 11 names in this directory beginning with the letter I.
An imprint of a customer’s credit card can be electronic, swiping the card through a credit card terminal, or manual, taking a physical impression of the credit card. Either of these two methods is required to prove the customer’s credit card was present.
The act of combining or coordinating several parts or elements into an entire whole. For example, the Cardservie International payment-processing engine is integrated with the ecBuilder Web site creation software.
The exchange of information, transaction data and money among banks. Interchange systems are managed by associations like Visa and MasterCard, and are very standardized so banks and merchants worldwide can use them.
A fee paid by the acquiring bank/merchant bank to the issuing bank. The fee is meant to compensates the issuer for the time after settlement with the acquiring bank/merchant bank and before it recoups the settlement value from the cardholder.
The Internet is the world’s largest computer network; it is essentially a network of networks. Any device attached to the Internet can communicate with any other device on the network. Some uses of the Internet include sending and receiving email, browsing web sites, and increasingly, the buying and selling of goods and services.
ISO Independent Sales Organization
An organization that performs merchant solicitation, sales or service on behalf of financial institutions and/or processors.
The bank that extends credit to customers through bankcard accounts. The bank issues the credit card and receives the cardholder’s payment at the end of the billing period. Also called the issuing bank or the cardholder bank.