Glossary

Merchant

It is a term used to define an individual or a group of people that sell goods created by other people or provides services to the customers. In e-commerce, the word is used to describe a person who provides goods/services via the computer network. As a result of selling, the trader receives the profit from the commodity which was sold, the funds are obtained from the consumer in different ways: personally, via Internet, bank account and others.

If the client buys some goods with a credit/debit card, the seller gives the purchase transaction details to its acquiring financial organization, after this, it will address the information to the cardholder’s issuing financial institution. The holder’s bank is in charge to decide either to allow or to dismiss the payment procedure.

It is a person who purchases goods from any possible sources in order to resell them with a higher price in order to receive a profit.