Information, Computer and Network Security Terms Glossary and Dictionary

SET: Secure Electronic Transaction

Secure Electronic Transaction (SET) is a protocol developed to ensure the security of financial transactions on the Internet. It was supported initially by Mastercard, Visa, Microsoft, Netscape, and others. With SET, a user is given an electronic wallet (digital certificate) and a transaction is conducted and verified using a combination of digital certificates and digital signatures among the purchaser, a merchant, and the purchaser's bank in a way that ensures privacy and confidentiality.

Related Terms

SET: Secure Electronic Transaction