The "Secure Electronic Transaction" protocol supports the encrypted transmission of user data across the internet.
The process of sending secure financial transactions over the Internet. Transactions are conducted and verified using a combination of digital IDs between the purchaser, the purchaser's bank and the merchant.
A set of standards for making credit card purchases securely over the Internet. The standards are being jointly developed by Visa, MasterCard, and American Express.
(SET) A protocol for secure electronic transactions over the Internet.
SET is a new standard for secure credit card transactions on the Web. It uses digital signatures for authentication of buyers and provides a scheme for credit card numbers to go directly to the card issuer for billing purposes without the merchant seeing the number. The cryptographic protocols were jointly developed by Visa, MasterCard, Netscape, and Microsoft and designed to provide Secure Web, credit card transactions for both consumers and merchants.
encrypted data transmission, which allows financial transactions to occur. SET is used by banks to engage in financial transactions with customers via the Internet. (p. 175)
A multiparty protocol that secures online communication between all parties in a payment card transaction. It encrypts access to sensitive credit card information throughout the card-processing network, thus reducing potential points of exposure to online theft from the buyer or merchant.
A standard protocol that is used for securing online credit card payments that are made over the Internet.
A secure payment protocol developed by Visa and MasterCard designed to ensure security for bank card transactions over the Internet. It denies merchants access to credit card information, thus keeping it secure between the shopper and the bank.
A protocol developed to provide for secure end-to-end online credit card transactions. All parties (customers, merchants and banks) are authenticated using digital signatures; and encryption protects the message and provides integrity.
A secure payment protocol developed by MasterCard and Visa designed to ensure security for bank card transactions over the Internet. In denying merchants access to credit card information, details are secured between the shopper and the bank.
A standard for Public key encryption intended to enable secure Electronic commerce transactions led-developed by Mastercard and Visa.
A future industry standard that will authenticate customers and merchants to ensure the safety and confidentiality of data processed over the Internet. Terminal A hardware device equipped with a magnetic strip reading device utilized for processing of card transactions, typically used in a retail (face-to-face) environment.
A standard set of protocols for secure Internet credit card transactions (encryption, digital signatures, certificates and third party validation services).
SET A protocol jointly developed by Visa, MasterCard, and several technology companies to facilitate secure credit card transactions over the Internet. SET uses public-key cryptography and requires merchants and consumers to have authentication keys to conduct on-line transactions. The purpose is to secure transactions over open networks such as the Internet
Secure Electronic Transaction (SET) is a standard protocol for securing credit card transactions over insecure networks, specifically, the Internet. SET is not itself a payment system, but rather a set of security protocols and formats that enables users to employ the existing credit card payment infrastructure on an open network in a secure fashion.