Glossary
Secure Electronic Transaction (SET)
Secure Electronic Transaction (SET) is a protocol designed to secure online payment transactions using digital certificates. Developed collaboratively by major companies, including Visa and MasterCard, SET provides a robust and secure method for consumers to make payments over the internet. The protocol aims to protect sensitive payment information during transmission and to authenticate the identities of both the consumer and the merchant involved in the transaction.
Key features of SET include:
In summary, Secure Electronic Transaction (SET) is a comprehensive protocol for securing online payment transactions. By encrypting payment information and using digital certificates to authenticate the identities of consumers and merchants, SET provides a secure and trustworthy framework for conducting online payments. This protocol helps to protect sensitive data from unauthorized access and ensures the integrity and confidentiality of online transactions.