Ecommerce
Sales, transactions, refunds, or any other business performed online.

Electronic Data Capture (EDC)
The use of a Point of Sale (POS) terminal to submit credit card transaction information to a merchant account provider.

Electronic Data Interchange (EDI)
Any electronic communication of business transactions. For instance, orders, confirmations and invoices.

Electronic Funds Transfer (EFT)
A money transfer initiated through an ATM, electronic terminal, computer, telephone, or magnetic tape. EFTs include credit card and automated bill payments.

Electronic Wallet (E-Wallet)
Software, which like a real wallet, stores credit card information and shipping details. The e-wallet resides as a plug-in in the Web browser and makes it possible for a credit card holder to conduct online transactions, manage payment receipts, and store digital certificates. The e-wallet initiates the data encryption in a SET transaction.

Employer Identification Number (EID)
A government-issued ID used on all business tax forms and other significant documents. Also called a Tax ID or Tax Number.

Encryption
A security measure which scrambles electronic information so that only the sender and receiver can read the message.

Equity
The current market value of your business, less your business debts.

Escrow
Money, property, or some other object or written engagement that is placed in the custody of a third party, and is released only after specified conditions have been met. Specified conditions may include the delivery of a product, performance of a service, or some other action. This provides a kind of holding pen for money to ensure that both parties of the arrangement are satisfied before the exchange of goods or funds takes place.

Expense Account
An account used for business-related travel and entertainment costs.