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SET (Secure Electronic Transaction)

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Secure transactions are critical for electronic commerce on the Internet. In order for merchants to automatically and safely collect and process payments from Internet clients, a secure protocol is required that is supported by major credit card companies, vendors, consumers, and software developers. The SET protocol was developed by Microsoft, IBM, Netscape, GTE, Visa, and MasterCard for this purpose. The SET specification is currently managed by SET Secure Electronic Transaction LLC, which promotes and supports the use of SET on the Internet.




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