SET, an open encryption and security specification model that is designed for…
2014
SET, an open encryption and security specification model that is designed for protecting credit card transactions on the internet, stands for
- A.
Secure Electronic Transaction
- B.
Secular Enterprise for Transaction
- C.
Security Electronic Transmission
- D.
Secured Electronic Termination
Attempted by 213 students.
Show answer & explanation
Correct answer: A
Answer: Secure Electronic Transaction
Explanation: SET is an open specification designed to protect credit-card transactions on the internet.
Developed by payment industry stakeholders (notably Visa and MasterCard) to provide a standard for secure online payments.
Uses encryption and digital certificates (public-key infrastructure) to ensure confidentiality, authentication, and integrity of transactions.
Intended purpose: protect cardholder data and merchant information during online credit-card transactions.