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What is SET ?

What is SET ?. The Internet payment solution. http://www.boci.com.hk. Some Statistics. According to VISA statistics¡G 1998 Internet transaction US$15 billion. 2000 reach US$40 billion From our Cardholder survey SECURITY problem is a major barrier to Internet shopping.

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What is SET ?

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  1. What is SET ? The Internet payment solution http://www.boci.com.hk

  2. Some Statistics • According to VISA statistics¡G • 1998 Internet transaction US$15 billion. • 2000 reach US$40 billion • From our Cardholder survey • SECURITY problem is a major barrier to Internet shopping.

  3. Internet Shopping with Credit Card • Mail Order • Print Order Form from website and mail back • SSL encription • Online Order submission with SSL encription • SET encription • Online Order submission with SET encription • All parties have electronic identify (Digital Cert.) • Merchant cannot access Credit Card information • Standard develop by VISA & Mastercard

  4. Why SET ? • World Wide Secure Payment Standard • Jointly developed by VISA, MasterCard and major financial & IT firms (like IBM) • Enhanced Encription • SSL (56bits) vs. SET (1024bits) -> 1/21024 • Authentication • Through Cardholder and Merchant Digital Certificate exchange, they can identify each other • Privacy Protection • Merchant can only view the order & delivery information, while bank can only view the payment information.

  5. Certification Authority Merchant Server Electronic Wallet Get the SET Digital Certificate Merchant Certificate (E-Business Registration) Cardholder Certificate (E-Credit Card) VISA - Verisign MasterCard - G.T.E. Merchant Cardholder

  6. Internet E-Business Reg E-Credit Card Exchange of Cert. °Ó¤á¦øªA¾¹ Merchant Server ¹q¤l¿ú¥] Electronic Wallet Order Delivery Cardholder Merchant Validate Credit Card thru’ BOC SET Payment Gateway Confirm order after checking Merchant Certificate Purchase by SET E-Wallet

  7. Cardholder Merchant Internet Merchant Server Electronic Wallet Certificate Certificate Internet Issuer Acquirer Bank Net PaymentGateway Certificate SET Purchase Flow Summary

  8. Prepare to use SET • Step 1 : Apply for a SET enable Credit Card (e.g. BOC Credit Card) • Step 2 : Enroll SET services • Step 3 : After receiving the SET Welcome Kit and the E-Wallet CD Rom, setup your PC accordingly. (1) Install E-Wallet (2) Get Digital Certificate (Using the SET PIN)

  9. SET Purchase Steps (1) Browse the SET shops, and select goods¡F (2) Pay with SET Wallet (E-Wallet will wake-up)¡F (3) Use your Wallet Password to open the wallet¡F (4) Select an Digital Certificate to pay for the order ; (5) Authorization take a few second to complete; (6) Merchant arrange for delivery¡F (7) Cardholder can check the order history through the E-Wallet¡C

  10. SET Purchase Screen

  11. - Live Demo -

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