E-Commerce words Glossary

R

Real-Time

An activity which occurs "while you wait", rather than being delayed for processing at a later time.

Reconciliation

The act of balancing debits, credits, and totals between two systems.

Recurring Transaction

A credit card transaction permitted by a customer that is periodically charged to the customer's account on a weekly, monthly, or quarterly basis.

Refund

A return of funds to a consumer for a returned product.

Registration

An entry of personal information in a formal record. When customers shop at your online business, they will have the opportunity to register as a member of your online business. The registration usually consists of user name, password, billing/shipping address, and e-mail address.

Reseller

A person who is authorized to sell someone else's goods and/or services.

Response

A reply, answer, or additional message that is returned to a sender.

Retrieval Request

A request by a bank to a merchant for documentation concerning a transaction. Usually regarding a customer dispute or an improper sale or return. A retrieval request can lead to a chargeback. See "Chargeback".

Return

A transaction in which a consumer wants to return a purchase and receive his/her money back. (Contrast with void.)

RSA

A method of public key encryption developed by Rivest, Shamir, and Adelman at the Massachusetts Institute of Technology which is sold by RSA Data Security Inc. RSA technology is one of the most popular public key encryption technologies currently available.