Payment Lexicon
The e-commerce and e-payment industry has already spawned its very own jargon. This is made up of many new word creations, mostly English expressions or their “Germanization”. The term e-payment is also made up of the terms “electronic”, shortened to “E”, and “payment”, which literally means electronic payment. The term generally refers to all payment transactions processed via the Internet across all payment methods.
In e-commerce, it is a necessary condition to connect the online store with a payment system to complete the sale. In the web store, a commercial Internet site through which products or services are sold, it is important in the ordering process to provide the customer with a choice of all the payment methods.
Around payment rates and online payment systems there are many terms like PCI DSS, CVV-Code or Fraud Prevention, which will still puzzle many newcomers to online business. Or do you know what an acquirer and an issuer have to do with credit card payments? Which bank issues the cards and which financial service provider settles the payment? And what does a payment service provider actually do in detail? With our payment lexicon you can read up on these and even more technical terms and find your way through the “e-payment jungle”.
As a payment service provider, Novalnet is happy to share the expert knowledge about online payment that it has accumulated over the years with (future) customers and all e-commerce entrepreneurs via this free service. We know that all beginnings are difficult and that payment processing can be a complex subject area. This is precisely where we support everyone in finding exactly the right payment solution for their own online store.
