In an attempt to assist new businesses or those thinking of starting a home-based business we offer this second half of a glossary of commonly used technology and business terms. It is by no means complete but should provide some light into the often-baffling language surrounding the modern business environment.
In an attempt to assist new businesses or those thinking of starting a home-based business we offer this second half of a glossary of commonly used technology and business terms. It is by no means complete but should provide some light into the often-baffling language surrounding the modern business environment.

IP Address- Internet Protocol Address- A unique number assigned to each computer attached to the internet. It allows servers to recognize particular machines, identify users, and determine domain name ownership. It consists of four sets of number broken up by dots. For example, 123.45.678.90

ISO- Independent Service Organization- A common acronym for companies that process online credit card transactions for a fee. Once a business has set up a merchant account with a bank they can then hire an ISO to processing.

ISP- Internet Service Provider- An organization or company that provides access to the Internet whether by dial up, Ethernet, or wireless connection.

Javascript- A programming language used to create programs that run on websites. Usually it is used to add specialized features and site-specific services.

JPEG- Joint Photographic Experts Group- the most common form of images used on the Internet. Jpegs are generally preferable to the other forms of images such as Gifs for reproducing photographs.

Link- A piece of text or image that will take a website visitor from one webpage to another page on that site or to another site entirely.

Merchant Account- A special bank account that allows a retailer or wholesaler to accept credit cards. The merchant account holds the funds until the credit card transaction is fully processed and then transfers the money to a regular business bank account.

Meta-tag- Special coding with in a website that is not visible to the human eye. It is intended to transmit information regarding a web site to the crawlers sent by search engines.

Micropayments- Until recently it was impossible for online companies to accept payment of less than about $10. However, increasingly payment providers will take smaller payments. The term is often used to describe the payments for online music, games, and other services costing very little.

Off-line Transaction- When a business is giving a credit card number via telephone or email for a purchase that is not immediately processed. The merchant then enters the number into a traditional credit card machine or online processor.

Opt-in Email- When a visitor voluntarily submits their email address to a online business or service in order to receive newsletters, discount coupons, or similar promotional material.

Order Conformation- An email sent by a merchant upon receiving an order from a customer to inform them that the order is processed and will be shipped.

P2P- Peer to Peer- A system that allows two computers to share information, usually automatic requiring no human participation.

Payment Threshold- The minimum amount of sales before an affiliate or similar program will issue a commission check. For example, a web site that has an affiliate program selling books will receive payment after they have sold $50 worth of titles. The payment threshold is $50.

Privacy Policy- A document attached to a web site that contains the companies policies regarding the information they collect from customer and visitors such credit card information, email addresses, and the like. Usually intended to reassure visitors that their privacy will be protected.

Recurring Fees- Any regular occurring fees for maintaining a merchant account. Common recurring fees include statement fees, transaction fees, and monthly minimum fees.

Settlement- The last step in processing an online charge. Once an order has been filled and shipped the merchant can perform a settlement that will charge the customer’s credit card, mark the order as filled and paid for, and transfer money to a merchant account.

Shopping Cart- A piece of software that allows customers to select merchandise from an online store and gather them together in one place in order to compare, examine, and ultimately pay for them.

Transaction Fee- The amount of money charged by a merchant account or payment provider for each transaction the service performs. Usually this is a small fee ranging from $.20 to $1.

Art Micklewraith is a freelance writer and regular contributor to Top Ten Wholesale. He can be reached at Content and Solutions or by email at artmicklewraith@gmail.com.