What is Secure Electronic Transaction (SET)
/ February 23, 2018

Today is the era of information technology. Nowadays online shopping increase in market, use of E-payment gives more important benefits to merchants as well as customers. All online transactions must pass through a Payment Gateway to be processed. In effect, Payment Gateways act as a bridge between the merchant’s website and the financial institutions that process the transaction. Nowadays the payment approaches via the internet and the network has been growing at a furious pace. In this way, the variety of the electronic payment systems consists of a numerous types to achieve a strong level of the security. Electronic payment is the very important step of the electronic business system, and its security must be ensured. Overview of Secure Electronic Transaction (SET) The Secure Electronic Transaction protocol also known as SET is a method for providing secure credit card transactions on the Internet. The SET protocol is designed to operate both in real time, as on the World Wide Web, and in a store-and-forward environment, such as e-mail. Furthermore, as an open standard, SET is designed to allow consumers, merchants, and banking software companies to independently develop software for their respective clienteles and to have them interoperate successfully. However, in…

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