Digital Transformation Glossary: M - N

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Digital Transformation Glossary: M - N

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Machine learning

AI-based language that automates data analysis, allowing retailers to integrate historical and real-time data and analyze patterns.

Magic mirror

Monitor placed behind a double-sided mirror that allows user to add preferred widgets to the mirror s reflection; used for virtual shelf display and virtual trial rooms in retail.

Merchant portal

E-commerce- or m-commerce-based portal built by a merchant to mark its presence among customers, who can use it to make payments for goods and services through various online payment gateways.

DIGITAL TRANSFORMATION GLOSSARY NAVIGATION

Mixed reality (MR)

Merging of real and virtual worlds to produce new environments and visualizations where physical and digital objects coexist and interact in real time. Also known as hybrid reality.

Mobile commerce (m-commerce)

Use of wireless handheld devices, such as cellular phones and laptops, to conduct commercial transactions online.

Mobile order and pay

Mobile application that allows a customer to order goods and services and pay in cash after delivery, or pay in advance through a payment gateway.

Mobile payment

Payment made through a mobile phone using NFC-based solutions such as Apple Pay or Google Wallet or app-based solutions like PayPal.

Mobile point of sale (mPOS)

Mobile, tablet or dedicated wireless device that operates as an electronic POS terminal or cash register used for making cash transactions.

Mobile shopping

Process of conducting shopping-related activities through a mobile device or tablet.

Mobile wallet

Virtual wallet that stores payment card information on a mobile device.

Multifactor authentication (MFA)

Security system that needs more than one method of authentication to verify the user s identity.

Natural language processing (NLP)

Application of computational techniques for analysis and synthesis of natural language and speech.

Near-field communication (NFC)

Wireless radio standard for short distances.

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