Welcome to the Financial Times Lexicon

Browse thousands of words and phrases selected by Financial Times editors and suggest new terms for the glossary.


Term of the day


Pay-per-click is an online advertising rate model where an advertiser is charged by a hosting service or advertising platform whenever their web advert is clicked.

Pay-per-click is a common advertising rate model on the web, but other fee structures are also prevalent, such as cost-per-impression (CPM or CPI), where advertisers pay every time an ad is seen.


In some instances, such as Google AdWords, the rates that an advertiser pays are based on auctions where advertisers bid for...