RESOURCE PERSON

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Introduction

An application-layer security mechanism, consisting of a set of protocols.

Protect credit card transaction on the Internet.

Companies involved:– MasterCard, Visa, IBM, Microsoft, Netscape, RSA,
Terisa and Verisign

Not a payment system.

It has a complex specification.

Credit Cards on the Internet

Problem: communicate credit card and purchasing data securely to gain consumer trust

Authentication of buyer and merchant

Confidential transmissions

Systems vary by

type of public-key encryption

type of symmetric encryption

message digest algorithm

number of parties having private keys

number of parties having certificates

SET Business Requirements (cont’d)

Ensure the use of the best security practices and system design techniques to protect all legitimate parties in an electronic commerce transaction.

Create a protocol that neither depends on transport security mechanisms nor prevents their use.

Facilitate and encourage interoperability among software and network providers.