Overview#
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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