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10.11: Key Terms

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    Bitcoin: A form of digital currency sometimes referred to as a cryptocurrency which is a new form of money that is tradable throughout the world. (10.8)

    Blockchain: A peer-to-peer network which provides an open, distributed record of transactions between two parties. (10.8)

    Brick-and-Click Businesses: Such as Indigo and Canadian Tire, combine a physical presence with an online presence. These businesses use the Internet to supplement their existing businesses.(10.5)

    E-Commerce Business Model: The method that a business uses to generate revenue online. E-commerce can take on a variety of forms involving different transactional relationships between businesses and consumers.(10.6)

    E-Commerce Platform: A way to build and create an online experience that allows a company to make sales and fulfill orders. (10.7)

    E-payment: Any payment done electronically. This form of payment includes debit cards, credit cards, gift cards, e-transfers, email payments, mobile wallets, and cryptocurrency. (10.7)

    Electronic Business or E-Business : The use of computer networks to improve organizational performance. Increasing profitability, gaining market share, improving customer service, and delivering products faster are some of the organizational performance gains possible by doing business electronically. (10.2)

    Electronic Transfer or E-Transfer: The ability to send money from your bank account held at a Canadian financial institution through the Interac Corporation. (10.7)

    Fake Reviews: Often created by bots which allows companies to leverage security systems to filter and remove this type of activity. (10.3)

    Hosting: Stores information on a server, which allows internet users to visit a company’s site and view all of the content.(10.7)

    Mobile M-Commerce (M-Commerce): Refers to the purchase of goods and services through wireless technology, such as cell phones and handheld devices. (10.5)

    Mobile Wallet: An application on your mobile device that stores your payment information to allow for contactless payments. It is like a regular wallet where you keep your credit, debit or prepaid cards. (10.7)

    New Retail: A term that was coined by Alibaba’s Jack Ma which is defined as an “integrated retail delivery model where offline, online, logistics, and data, converge to enhance customer experience.” (10.9)

    Peer-to-Peer Network (P2P): One where there is no server between the two nodes trying to communicate. Essentially, this means that each node acts as a server and a client. (10.8)

    Pure-Play Business: Such as Amazon and, has an online presence only and uses the capabilities of the internet to create a new business. (10.5)

    Social Commerce: Where online social networks are utilized to promote the sale of goods and services. Social commerce provides a means for interactive shopping, including reviews, ratings, and social shopping websites where you can chat with merchant personnel or with friends while you are shopping. (10.9)

    Social Networks: Provide a platform for people to connect with each other and share information. Facebook, Instagram, Twitter, LinkedIn and TikTok are all examples of online social networks that allow for the exchange of information. (10.9)

    10.11: Key Terms is shared under a CC BY-NC-SA license and was authored, remixed, and/or curated by LibreTexts.

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