Source : Free On-Line Dictionary of Computing

application service provider
     
         (ASP) A service (usually a business)
        that provides remote access to an {application program} across
        a {network} {protocol}, typically {HTTP}.  A common example is
        a {web site} that other web sites use for accepting payment by
        credit card as part of their {online ordering} systems.
     
        As this term is complex-sounding but vague, it is widely used
        by {marketroids} who want to avoid being specific and clear at
        all costs.
     
        (2001-03-26)