Chargebacks Glossary

Your go-to resource for understanding payment, fraud, and banking terminology with clear definitions from Acquirer to Zero Liability

Checkout

Online checkout refers to the steps customers go through to complete an eCommerce purchase. The process is designed to mimic the act of checking out in a traditional brick-and-mortar store. Platforms such as Shopify have built-in checkout capabilities that allow users to build and open online stores more easily.

The typical components of an eCommerce checkout process include:

  • Shopping Carts
  • Customer Data Input
  • Shipping Options
  • Payment Information
  • Order Review/Finalization
  • Merchant Confirmation

The merchant checkout process should be as intuitive and friction-free as possible. Surveys show that most customers expect the entire checkout to take less than four minutes.

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