If you are taking the dive into e-commerce hosting for the first time, you will undoubtedly encounter unfamiliar terms. The following is a list of some common terms that may stump you when you first see them but that may be important for you to know.
- Payment gateway – This is a service that acts as a virtual “point of sale” to process credit cards and other payment methods and pass them on to your merchant account.
- Payment processor – While the payment gateway usually passes off payment authorization sent through your site, a payment processor handles all of the transactions and then sends the user back to your site. This allows ecommerce sites without merchant accounts to still process payments.
- Secure Socket Layer (SSL) – This is the protocol that a website will use in order to encrypt transactions and keep them secure. Normally, a website using SSL will have a URL that begins with HTTPS rather than HTTP.
- Security certificate – When an SSL connection is sent to a web browser, the browser will verify its authenticity by reading its SSL certificate. If the security certificate is invalid, it will produce an error. You can purchase SSL certificates from authorized vendors.
- CVC2 or CVV2 – Both of these refer to credit card validation numbers found on the back of VISA and MasterCard credit and bank cards. This three-digit code is simply an extra layer of security that validates that the cardholder actually has the card in his/her possession.
There are many other terms you might encounter when setting up your e-commerce website. For a more complete list, visit this online reference guide.