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Short for Secure Electronic
Transaction, a standard that
will enable secure credit card
transactions on the Internet. SET has
been endorsed by virtually all the major
players in the electronic commerce
arena, including Microsoft, Netscape,
Visa, and Mastercard.
By employing digital signatures, SET
will enable merchants to verify that
buyers are who they claim to be. And it
will protect buyers by providing a
mechanism for their credit card number
to be transferred directly to the credit
card issuer for verification and billing
without the merchant being able to see
the number. |
