There is much more risk over the phone. He says Australians, unlike Americans, have been frightened off the Internet because of perceived security issues. So SET should help improve the perception of security on the Internet. Park agrees that a lot of the security concerns surrounding the Internet originate from the banks. The last thing we want is a complaint from either end to say that this is not a genuine transaction.
Fraud ends up being the bank's problem.
We want to make sure the customer is happy and that at the end of the day we don't have to pay because of fraud. Also the bank itself makes a lot of very large payments, so we want to make sure the systems are secure. The people who understand the Internet know there is no security concern, but it is the banks that have been trying to slow the process. He says tourists can buy something with their credit card in his Sydney city store, but they cannot do the same transaction over the Internet from home, because the banks do not allow it. The merchants are not encouraged to send information unsecured over the Internet, but if merchants want to do that, they take the risk.