SET stands for Secure Electronic Transaction. It is basically used for Credit Card payment. We know that credit card is the most commonly used payment method in E-commerce in particular Business to Consumer E-commerce. Before the introduction of the SET, credit card payment was usually carried out over an SSL connection(Secure Socket Layer Connection).
* SSL is not a complete credit card payment method because it cannot support online credit card authorization . set is specially developed to provide credit card payment over internet securely.
SET network architecture.
It consist of following:-
* SSL is not a complete credit card payment method because it cannot support online credit card authorization . set is specially developed to provide credit card payment over internet securely.
SET network architecture.
It consist of following:-
- Merchant : - This refers to a seller which connected to an acquirer.
- Card holder : - This refers to a registered holder of the credit card who is a Bayer
- issuer : - This refers to the bank that issues the credit card to the card holder.
- Acquirer :- This refers to to the bank that serve's as an "Agent " to a merchant to multiplier issuer by donig so , A merchant can process various credit card through a single acquirer.
- Payment Gateway : - This is typically connected to the acquirer the payment gateway is situated between the SET system and the financial network of the current credit card system for processing of the credit card payment .
