E-Commerce words Glossary

T

Tax Class

Defines the type of taxes that are being applied i.e. G.S.T, VAT, Federal, State, or County tax.

Tax Jurisdiction

Defines a geographic area that has it's own distinct set of tax rules and regulations i.e. a Country, a State, a City, a Municipal, or a County.

TCP/IP Transmission Control Protocol/Internet Protocol.

A suite of computer communication protocols that connect networks and allows them to communicate with each other. TCP verifies data transmission between a client and a server. IP moves the data to the appropriate node on a network. TCP/IP is the primary transmission protocol used on the Internet.

Ticket

Another name for the sales slip or its monetary value that results when a credit card purchase is made.

Transaction

The process that takes place when a cardholder makes a purchase with a credit card.

Transaction Fee

A per transaction amount charged by the bank for processing each transaction. This amount is in addition to the discount rate. For example: a discount rate of 2.25% plus 15 cents per transaction.