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SET or the other way

By Merlo ·
I'm quite confused, what directions are payment systems going. We're a dot com and which is which, SET (Secure Electronic Transaction) or other equally secure protocols. Your views would certainly help.

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SET or the other way

by TRishi In reply to SET or the other way

The industry standard is SSL, which stands for Secure Socket Layer. In English, it's simply a secure web protocol that uses encryption technology to ensure that your customer's personal and/or financial information (credit card numbers, etc.) is safe as it travels through networks from their browser to your server. You buy a digital certificate from a company like VeriSign and give it your web hosting company to install it.

The inherent problem in this protocol is that it can not authenticate the user on the net meaning that a credit card is not being used by a owner of the card or hacker.

This problem will be solved by SET which ensure that owner is using the credit card. Smart Cards which will have chip for the identity of the user and secured by PIN codes should replace SSL once this mode of payment becomes industry standard. Both Master and Visa are working along these lines and hopefully by year 2001, surfers will be paying thru smart cards.

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SET or the other way

by Merlo In reply to SET or the other way

The question was auto-closed by TechRepublic

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SET or the other way

by echenard In reply to SET or the other way

SSL is the industry standard right now but many do want to see SET implemented. I think in the future as wireless and other devices develop, we will end up with many security protocols. The protocol of choice will depend on the device being connected but in the end, an e-commerce site will have to deal with all. For example, cell phones use their own form of security protocols, as they become more integrated with the web, that security may become an issue. SET has caught on in some small pockets but until companies stop working of the least common denominator, SET will not take off.

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SET or the other way

by Merlo In reply to SET or the other way

The question was auto-closed by TechRepublic

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SET or the other way

by ViR In reply to SET or the other way

SET is a good thing, but unfortunately introduces too much overhead for the consumer. According to VISA (Switzerland), only a small group of people actually subscribed to use SET services, basically the people who implement payment solutions on the Internet. Microsoft is said to work on the next version of the SET protocol (or its replacement), which is just as secure, but will be much easier to use for the consumer. This should be introduced around Spring 2001, so let's wait and see.... Until then, it's SSL that we'll have to use.

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SET or the other way

by Merlo In reply to SET or the other way

The question was auto-closed by TechRepublic

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SET or the other way

by Merlo In reply to SET or the other way

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