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SET, an open encryption and security specification model that is designed for protecting credit card transactions on the internet, stands for

  1. Secure Electronic Transaction
  2. Secular Enterprise for Transaction
  3. Security Electronic Transmission
  4. Secured Electronic Termination
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A. Secure Electronic Transaction ..

 

Secure Electronic Transaction (SET) was a communications protocol standard for securing credit card transactions over insecure networks, specifically, the Internet....

SET 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…

However, it failed to gain attraction in the market. VISA now promotes the 3-D Secure scheme ....

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