SET Secure Electronic Transaction.
A standard established by MasterCard and Visa for the secure use of credit, debit, and corporate purchasing cards over the Internet. Co-developers and supporters are Microsoft, CyberCash, GTE, IBM, and Netscape. Other supporters include RSA Data Security, Terisa Systems, and VeriSign. SET represents an evolution, merging, and replacement of S-HTTP and SSL (which see in the hard copy dictionary).
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