What is E security explain the concept of set?

Secure electronic transaction (SET) was an early communications protocol used by e-commerce websites to secure electronic debit and credit card payments. Secure electronic transaction was used to facilitate the secure transmission of consumer card information via electronic portals on the internet.

What is set in networking?

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

How does set protocol work?

The SET protocol like any other protocol operates via a sequence of message exhanges. There is a total of ten steps (message exhanges) taken for a transaction, and the parties involved include the consumer, vendor, and a network of banks.

How do online sellers secure electronic transactions?

Secure Electronic Transaction works as follows:

  • Step 1: Customer Open an Account. …
  • Step 2: Customer Receive a Certificate. …
  • Step 3: Merchant Receives a Certificate. …
  • Step 4: Customer Place an Order. …
  • Step 5: Merchant is Verified. …
  • Step 6: The Order and Payment Details Are Sent. …
  • Step 7: Merchant Requests Payment Authorization.

What is the need for computer security?

Computer Security helps to preventing and detecting unauthorized access of your computer. If hackers can get access your computer then they gain control your all sensitive information. In modern times, hackers are very smart and they will try to get access your computer system anyway without your acknowledgement.

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What are the steps involved in SET transactions?

Secure Electronic Transaction (SET)

  • The customer opens a Mastercard or Visa bank account. …
  • The customer receives a digital certificate. …
  • Third-party merchants also receive certificates from the bank. …
  • The customer places an order over a Web page, by phone, or some other means.

What is set example?

A set is a collection of elements or numbers or objects, represented within the curly brackets { }. For example: {1,2,3,4} is a set of numbers.

What is called set?

A set is a collection of objects. The objects are called the elements of the set. If a set has finitely many elements, it is a finite set, otherwise it is an infinite set. … For example, the set of real numbers, the set of even integers, the set of all books written before the year 2000.

What are sets in maths?

Set, In mathematics and logic, any collection of objects (elements), which may be mathematical (e.g., numbers, functions) or not. … For example, the set of integers from 1 to 100 is finite, whereas the set of all integers is infinite. A set is commonly represented as a list of all its members enclosed in braces.

Which protocol is mostly used by banks?

The Transport Layer Security (TLS) protocol is used by millions of people on a daily basis. It provides security for online banking, as well as for credit card data when shopping on the Internet.

What is the main interesting aspect of set protocol?

The main interesting aspect of SET protocol which gives the confidence to the customer is that the merchant does not know the credit card number of the customer.

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What is E transaction?

An electronic transaction is the sale or purchase of goods or services, whether between businesses, households, individuals, governments, and other public or private organisations, conducted over computer-mediated networks.

What are the methods to secure electronic payment system?

Here’s how you can abide by industry standards and keep sensitive data secure.

  • Learn about the Secure Electronic Transaction system. …
  • Ensure your electronic payment system is PCI compliant. …
  • Create an eCommerce site that uses SSL encryption technology. …
  • Set up digital signatures. …
  • Reach a new audience.

What are the components of secure electronic transaction?

An SET system includes the following components:

  • Merchant.
  • Cardholder/acquirer.
  • Card issuer.
  • Payment gateway.
  • Certification authority (CA)
  • Dual signature: A guaranteed SET data integrity innovation that links two different recipient messages.