What is SET(Secure Electronic Transaction) Protocol?
In this tutorial, we are going to see What is SET(Secure Electronic Transaction) Protocol?
SET (Secure Electronic Transaction) is a secure electronic transaction protocol developed by Visa and MasterCard, based on the SSL standard.
SET is based on the use of an electronic signature at the buyer’s level and a transaction involving not only the buyer and the seller but also their respective banks.
How does SET work?
During a secure transaction with SET, the data are sent by the customer to the seller’s server, but the seller only gets the order. Indeed, the credit card number is sent directly to the merchant’s bank, which will be able to read the bank details of the buyer, and therefore contact his bank in order to verify them in real-time.
This type of method requires an electronic signature from the card user to certify that he or she is the owner of the card.
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