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 ONLINE PAYMENT GLOSSARY

  • Online shop
  • Virtual Payment Terminal
  • Check out
  • Internet Merchant Account
  • Chargeback
  • CVV2
  • Secure payment gateway
  • Refund
  • Shopping cart
  • SSL : Secure Socket Layer
  • IPSP


  • Shopping Cart (virtual Caddy)

    This is the virtual equivalent of a supermarket shopping trolley or caddy
    In the online shop, you use the shopping cart to:

    - Add products or services (just as you would at the supermarket)
    - Confirm your purchases (just as you would at a store checkout)
    - Send information to your online payment provider about the order

    Essentially, it is actually a piece of software that you set up within your online shop.