Secure Electronic Transaction SET
This standard was released May 31 1997 and is designed to support electronic bankcard transactions i.e. to enable electronic shopping on the Internet(Web)
http://www.mastercard.com/set has complete specification for users and developers (about 1000 pages!)
Partners were Mastercard, GTE, IBM, Microsoft, Netscape, SAIC, Terisa Systems, Verisign and Visa
Goals included rapid development of this application in an interoperable fashion consistent with world wide standards
- make certain technology meets US export rules
Need to authenticate cardholders, merchants and financial service operators.
Provide confidentiality and integrity for payment data