Tech moves fast! Stay ahead of the curve with Techopedia!
Join nearly 200,000 subscribers who receive actionable tech insights from Techopedia.
A secure electronic transaction (SET) is an open-source and cryptography-based protocol for secure payment processing via nonsecure networks. In June 2003, SET was published as RFC 3538. SET was replaced by more advanced systems, such VISA’s 3-D Secure.
In 1996, SET was launched and backed by VISA, MasterCard and other payment processing industry leaders. SET’s blinding algorithm ensures data confidentiality, data integrity and cardholder/merchant authentication.
An SET system includes the following components:
Join nearly 200,000 subscribers who receive actionable tech insights from Techopedia.