SET(Secure Electronic Transaction)

SET is IBM, VISA international organization (VISA/MasterCard) and related companies targeted network electronic trading the security protocols jointly formulated, it applied RSA security encrypted technology, with material confidentiality, data integrity, source recognizable and undeniable sex, is used to protect consumers in the Internet the standard pay transaction security CARDS. SET version 1.0 in June 1997, officially published. Now, SET has become internationally acknowledged that the electronic commercial transactions in Internet safety standard.

SET agreement in card in safe electronic payment system, using the client browser, applied to from a business site to commercial Banks. Online Banks to use existing procedures and equipment through the confirm credit card, bank account settlement customer transaction. SET agreement, through the credit card number to guarantee the hidden process safety. Pay So, SET must ensure that credit card holders and bank in existing systems and networks, can maintain continuous contact. SET agreement in different systems for use credit card to create a complete solution. Reliable identity authentication make SET to be a very good online payment system. It enables transactions every lawful participants can have a reasonable identity, but to cardholders identity verification is by Banks. Of course this including other services, such as: the identity authentication, customer service, etc. This is build another reliable users connect method. Meanwhile in the disputes can be convenient for arbitration.

SET and SSL is doing the authentication work of consumers, which means not only global data networks in shopping standing need authentication units from authentication, consumer also must authentication agencies to obtain certification.

SET is by Electronic thank (Electronic purse), a Server (stores end service machine), Gateway (Payment we transfer station) and authentication center Certification Authority (groups), they constitute the Internet according to SET the standard credit card authorization transactions.

Generally speaking, in the open Internet financial transactions to SSL and SET trade agreements, which mainly by the international recognized as the SET of safety. In view of this, VISA/MASTER in June 1997 called Electronic trading (forward Secure Electronic Transaction) SET: the network Transaction security specifications, the specifications basically is also use and SSL equally large numerical coding technology, to ensure material secrecy and user authentication work.

Current credit card security trading standards SET is still in the construction. In this system has not yet been officially operate on the network before consumers shopping when using a credit card, still must undertake credit card information stolen risk.

Sensitivity material in the transport of process by eavesdropping, transaction information transfer process in the tampered, both sides of a business transaction identity was fake, the same exact order repeat sent out, these problems even for the present SET safety trading standards, still have certain difficulty. Using the WWW gives users the confidentiality of the information will be used more User Profile, SSL or CA, in order to avoid material on the Internet by others teleport eavesdropping.