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Amity School of Engineering & Technology: B. Tech. (CS & IT), VI Semester E-Commerce & ERP Sunil Vyas

SET was a proposed standard for securing credit card transactions over the internet. It aimed to allow secure online credit card payments using existing payment infrastructure but failed to gain widespread adoption due to costs and complexity compared to simpler SSL-based alternatives. SET incorporated features like confidentiality, integrity, and cardholder authentication but issues like needing client software and certificate distribution hindered its adoption.

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Jayant Bhardwaj
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16 views

Amity School of Engineering & Technology: B. Tech. (CS & IT), VI Semester E-Commerce & ERP Sunil Vyas

SET was a proposed standard for securing credit card transactions over the internet. It aimed to allow secure online credit card payments using existing payment infrastructure but failed to gain widespread adoption due to costs and complexity compared to simpler SSL-based alternatives. SET incorporated features like confidentiality, integrity, and cardholder authentication but issues like needing client software and certificate distribution hindered its adoption.

Uploaded by

Jayant Bhardwaj
Copyright
© Attribution Non-Commercial (BY-NC)
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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ASET

Amity School of Engineering & Technology


B. Tech. (CS & IT),VI Semester E-commerce & ERP Sunil Vyas

What is SET?
ASET

Secure Electronic Transaction (SET) was a standard protocol for securing credit card transactions over insecure networks, specifically, the Internet. SET was not itself a payment system, but rather a set of security protocols and formats that enable users to employ the existing credit card payment infrastructure on an open network in a secure fashion. However, it failed to gain traction. VISA now promotes the 3-D Secure scheme.

SET Continue
ASET

SET was intended to become the de facto standard of payment method on the Internet between the merchants, the buyers, and the creditcard companies. Despite heavy publicity, it failed to win market share. Reasons for this include: Network effect - need to install client software (an e-wallet). Cost and complexity for merchants to offer support and comparatively low cost and simplicity of the existing SSL based alternative. Client-side certificate distribution logistics.

SET Characterstics
ASET

To meet the business requirements, SET incorporates the following features: Confidentiality of information Integrity of data Cardholder account authentication

Advantage of Internet

ASET

Email. Email is now an essential communication tools in business. It is also excellent for keeping in touch with family and friends. The advantages to email is that it is free ( no charge per use) when compared to telephone, fax and postal services. Information. There is a huge amount of information available on the internet for just about every subject known to man, ranging from government law and services, trade fairs and conferences, market information, new ideas and technical support.

Advantages

ASET

Services. Many services are now provided on the internet such as online banking, job seeking and applications, and hotel reservations. Often these services are not available off-line or cost more. Buy or sell products. The internet is a very effective way to buy and sell products all over the world. Communities. Communities of all types have sprung up on the internet. Its a great way to meet up with people of similar interest and discuss common issues.

Applications
ASET

An e-commerce payment system facilitates the acceptance of electronic payment for online transactions. Also known as a sample of Electronic Data Interchange(EDI), e-commerce payment systems have become increasingly popular due to the widespread use of the internet-based shopping and banking.

Application
ASET

There are numerous different payments systems available for online merchants. These include the traditional credit, debit and charge card but also new technologies such as digital wallets, e-cash, mobile payment and e-checks. Another form of payment system is allowing a 3rd party to complete the online transaction for you. These companies are called Payment Service Providers (PSP).

Credit Cards and Smart Cards


ASET

Over the years, credit cards have become one of the most common forms of payment for e-commerce transactions. In North America almost 90% of online B2C transactions were made with this payment type. Turban et al. goes on to explain that it would be difficult for an online retailer to operate without supporting credit and debit cards due to their widespread use.

Credit /Debit card System


ASET

Increased security measures such as the use of the card verification number (CVN) which detects fraud by comparing the verification number printed on the signature strip on the back of the card with the information on file with the cardholder's issuing bank . Also online merchants have to comply with stringent rules stipulated by the credit and debit card issuers (Visa and MasterCard) this means that merchants must have security protocol and procedures in place to ensure transactions are more secure.

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