Editing Secure Electronic Transaction (section)

{{more footnotes|date=July 2018}}
'''Secure Electronic Transaction''' ('''SET''') is a [[communications protocol]] standard for securing [[credit card]] transactions over [[Computer network|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.

Secure Electronic Transaction (SET) is a system for ensuring the security of financial transactions on the Internet. It was supported initially by Mastercard, Visa, Microsoft, Netscape, and others. With SET, a user is given an electronic wallet (digital certificate) and a transaction is conducted and verified using a combination of digital certificates and digital signatures among the purchaser, a merchant, and the purchaser's bank in a way that ensures privacy and confidentiality