Explanation
The SET (Secure Electronic Transaction) protocol was a security protocol designed to facilitate secure electronic transactions over the internet, especially in the context of online credit card payments. It aimed to ensure the confidentiality and integrity of payment information during online transactions.
The SET (Secure Electronic Transaction) protocol was a security protocol designed to facilitate secure electronic transactions over the internet, especially in the context of online credit card payments. It aimed to ensure the confidentiality and integrity of payment information during online transactions.
Key features of the SET protocol included:
- Authentication: Both the customer and the merchant were required to authenticate themselves during a transaction. This was typically achieved using digital certificates.
- Confidentiality: SET ensured the confidentiality of sensitive information, such as credit card details, by encrypting the communication between the parties involved in the transaction.
- Integrity: The protocol aimed to maintain the integrity of the transaction data, ensuring that it was not tampered with during the transfer.
- Transaction Authorization: SET involved a multi-step process for authorization, involving the customer, merchant, payment gateway, and the financial institution. This multi-step process added an extra layer of security.
- Digital Signatures: Digital signatures were used to verify the authenticity of messages exchanged between parties.