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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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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.


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


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.


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


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


Cardholder

Merchant

Internet

Merchant

Server

Electronic

Wallet

Certificate

Certificate

Internet

Issuer

Acquirer

Bank Net

PaymentGateway

Certificate

SET Purchase Flow Summary


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)


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


SET Purchase Screen


- Live Demo -


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