Secure Electronic Transaction


Secure Electronic Transaction is a communications protocol standard for securing credit card Transactions over networks, specifically, the Internet.

Secure Electronic Transaction was not itself a payment system, but rather a set of security protocols and formats that enabled users to employ the existing credit card payment infrastructure on an open network in a secure fashion.

Secure Electronic Transaction was developed by the SET Consortium, established in 1996 by VISA and MasterCard in cooperation with GTE, IBM, Microsoft, Netscape, SAIC, Terisa Systems, RSA, and VeriSign. VISA now promotes 3D Secure.

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