Internet security is an opportunity for us. N.C. In hopes of turning the Internet thereat into a source of profitable, sustainable relationships with both consumers and merchants, a number of financial services companies are pairing off with technology partners. For the ambitious, the goal is to develop a killer payment application for the Internet. For others, it's simply to develop expertise should the Internet market explode. SET is an open standard, multi-party protocol for conducting secure bankcard payments over the Internet.
Interoperability is ensured by design through specific protocols and message formats.
SET provides message integrity, authentication of all financial data, and encryption of sensitive data. Authentication of a cardholder for a branded bankcard account. Authentication of the merchant to accept credit card payments. Payment information integrity is ensured by the use of digital signatures. Special purpose certificates.