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 and http://www.setco.org/download.html have 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

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