secure electronic transaction (SET)
Definition
Non-proprietary (open) industry standard developed jointly by MasterCard and Visa for secure online (electronic commerce) credit card transactions over a network, including the internet. Under set, buyers provide their credit card numbers to the merchants only in an unreadable (encoded) form. Merchants cannot read (decode) the numbers but can forward them to the respective card issuers for verification and approval.
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secure electronic transaction (SET) is in the Data Management, Communications, & Networks and E-Commerce subjects.
secure electronic transaction (SET) appears in the definition of the following term: secure server
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