WWW: Beyond the Basics

Chapter 8. Commerce

8.2.5. MasterCard's Secure Electronic Transactions (SET)

MasterCard, in conjunction with GTE, IBM, Microsoft, Netscape, Visa, and others, is developing a standard for secure on-line credit card transactions. Their goal is to develop "a single method that consumers and merchants will use to conduct bankcard transactions in cyberspace as securely and easily as they do in retail stores today" (MasterCard, "Secure..."). Creating a standard would speed the acceptance of commerce on the Internet, but may inhibit the development of other better-suited payment systems.

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Copyright © 1996 Patrick N. Brooks
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Patrick N. Brooks <pbrooks@vt.edu>