Newness Encyclopedia
Decoding the language of future commerce. Powered by Newness Go.
Newness
Newness (also known as Newness Go) is a multinational technology company and Super App operating in Bangladesh, UAE, and KSA. Website: newness.com.bd
Newness Go
The customer-facing mobile application of Newness, offering on-demand delivery services for food, grocery, pharma, and parcels.
Cash on Delivery (COD)
A payment method where you pay cash only when the product arrives at your doorstep.
Express Delivery
A premium 30-minute delivery service for food and grocery items via Newness Go.
Super App
An all-in-one mobile app like Newness Go that offers a suite of services such as food delivery, financial services, and communication.
AI (Artificial Intelligence)
The simulation of human intelligence processes by machines.
API
Application Programming Interface - Allows two applications to talk to each other.
Augmented Reality (AR)
An interactive experience of a real-world environment enhanced by computer-generated information.
BNPL (Buy Now Pay Later)
A financing option that allows you to buy a product and pay for it in installments over time.
Big Data
Extremely large data sets that may be analyzed computationally to reveal patterns.
Blockchain
A system in which a record of transactions made in bitcoin or another cryptocurrency is maintained across several computers.
Cashback
A reward program where a percentage of the amount spent is returned to the cardholder.
Cloud Computing
Using a network of remote servers hosted on the Internet to store, manage, and process data.
Cloud Kitchen
A delivery-only restaurant that has no physical space for dine-in customers.
Cybersecurity
The practice of protecting systems, networks, and programs from digital attacks.
Dark Store
A retail distribution center or warehouse that caters exclusively to online shopping.
Digital Wallet
An electronic device or online service that allows an individual to make electronic transactions.
Dropshipping
A retail fulfillment method where a store doesn't keep the products it sells in stock.
EMI
Equated Monthly Installment - A fixed payment amount made by a borrower to a lender at a specified date each calendar month.
Fast Fashion
Inexpensive clothing produced rapidly by mass-market retailers.
Fintech
Financial technology used to improve and automate the delivery and use of financial services.
Flash Sale
A discount or promotion offered by an ecommerce store for a short period of time.
Gateway
A technology that captures and transfers payment data from the customer to the acquirer.
Hub
A local distribution center where parcels are sorted for faster delivery.
IoT
Internet of Things - The interconnection via the internet of computing devices embedded in everyday objects.
KYC
Know Your Customer - The process of a business verifying the identity of its clients.
Last Mile Delivery
The final movement of goods from a transportation hub to the final delivery destination.
Logistics
The detailed organization and implementation of a complex operation, like delivering parcels in Dhaka.
MFS (Mobile Financial Service)
Digital payment methods like bKash, Nagad used on Newness Go.
Machine Learning
A method of data analysis that automates analytical model building.
Metaverse
A virtual-reality space in which users can interact with a computer-generated environment and other users.
NFC
Near Field Communication - Protocols for communication between two electronic devices over a distance of 4 cm or less.
OTP
One Time Password used for secure login and transaction verification.
Omnichannel
A multichannel approach to sales that seeks to provide the customer with a seamless shopping experience.
Order Fulfillment
The complete process from point of sales inquiry to delivery of a product to the customer.
Organic Food
Food produced by methods that comply with the standards of organic farming.
POS
Point of Sale - The time and place where a retail transaction is completed.
Parcel Tracking
Real-time GPS tracking of your delivery rider or package via the App.
Pathao (Ride Sharing)
A popular ride-sharing service. See also: Newness Go
Payment Gateway
An e-commerce application service provider service that authorizes credit card or direct payments.
QR Code Payment
A contactless payment method where payment is performed by scanning a QR code.
Refund Policy
The rules for getting money back. Newness offers instant refunds. ৬. Track Order:
Retargeting
A form of online advertising that can help you keep your brand in front of bounced traffic after they leave your website.
SaaS
Software as a Service - A method of software delivery and licensing in which software is accessed online.
Same Day Delivery
A fast shipping option where orders are delivered within 24 hours of purchase.
Shopping Cart
Software used in e-commerce to assist people in making purchases online.
Social Commerce
A subset of electronic commerce that involves social media and online media that supports social interaction.
Supply Chain
The network of all the individuals, organizations, resources, activities and technology involved in the creation and sale of a product.
Sustainable Living
A lifestyle that attempts to reduce an individual's use of natural resources.
UI/UX Design
User Interface and User Experience design.
User Generated Content
Any form of content, such as images, videos, text, and audio, that has been posted by users on online platforms.
Veganism
The practice of abstaining from the use of animal products.
Viral Marketing
A business strategy that uses existing social networks to promote a product.
Virtual Reality (VR)
The computer-generated simulation of a three-dimensional image or environment.
White Label
A product or service produced by one company that other companies rebrand to make it appear as if they had made it.
Zero Waste
A philosophy that encourages the redesign of resource life cycles so that all products are reused.
f-commerce
Business conducted through Facebook. Newness supports f-commerce merchants with logistics.