Scaling for E-Business

6.3. SET - Secure Electronic Transactions

SET (Secure Electronic Transaction) was developed by the SET Consortium, which includes organizations such as Visa, MasterCard, GTE, IBM, Microsoft, VeriSign, SAIC, RSA Data Security, and others [5]. SET provides confidentiality of payment and order information. Payment information cannot be viewed by the merchant; only by the payment authorization and processing entities. Order information can only be seen by the merchant and not by the payment processing entities. Through SET, merchants are authenticated to guarantee they can accept payment card transactions and cardholders are authenticated as legitimate users of a credit card.

Instead of using a plastic credit card, customers use an electronic wallet ...