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 NUTRA ECOMMERCE BEGINNERS GUIDE

Ecommerce is also referred as ecommerce, ecom or Internet commerce. All these terms mean selling and buying services and products on the internet and the time was never better for this. If you want to start a business on the internet, several new technologies are available today to help you do it. There is 1 to suit each requirement and need. The most important fact is: Ecommerce is very safe and secure today. The technologies available today make ecommerce as secure as “face to face” transactions.

However, Ecommerce is not very simple and therefore you will have to understand the terms and concepts to do it right.

Given below are a few terms and concepts used in Ecommerce:

CSP or Commerce Service Providers

These are web sites or businesses which provide ecom solutions.

Digital Money or Ecash or Electronic Cash

These terms mean the same and are used interchangeably. They refer to any method that is used by a person to buy services or goods on the internet by entering some details. These details are used by the bank to transfer real money from one account to another. Ecash is reusable and anonymous. Unlike a credit card transaction, the merchant will not know the personal details of the buyer.

Cheques or Electronic Checks

Customers can pay for their purchases using e-checks. These can be transmitted over the phone, fax or email. The e-check is a message which contains the information found on ordinary cheques. However, these are digitally signed. The signature is encrypted using the customer’s digital key. Upon receiving it, the merchant can take additional precautions by encrypting it with his private key. When the e-check is processed, the reply or status message is encrypted using the banks private key.

There are several companies that sell such services and software.

Electronic Wallet

Electronic Wallet is a software application which stores sensible information such as credit card details in an encrypted format. Then, you can shop at web sites which support your type of wallet. When you click on the pay button, you initiate the credit card payment through a secured transaction that is enabled by your electronic wallet.

EC or Emmerce or Ecom or Electronic Commerce

All these terms mean exchange of business information through Electronic data interchange, electronic funds transfer, fax transmissions and electronic boards. The terms refer to B2B transactions, purchasing and selling of merchandise on the net, online bond and stock transactions and internet shopping.

Extranet

It is the extension of the corporate internet. It connects the intranet of a company to the intranets of suppliers and customers.

Disintermediation

This is a process of selling your products and services directly to your customer. You bypass all the retail channels.

Soft Goods vs. Hard Goods

Soft goods exist electronically or virtually, whereas hard goods exist physically. For example, selling a book in printed form is hard goods whereas offering the book in electronic format for download in a soft good. All software applications are soft goods. Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.