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What is SET ? PowerPoint PPT Presentation


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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 l.jpg

What is SET ?

The Internet payment solution

http://www.boci.com.hk


Some statistics l.jpg

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 l.jpg

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 l.jpg

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.


Get the set digital certificate l.jpg

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


Purchase by set e wallet l.jpg

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


Set purchase flow summary l.jpg

Cardholder

Merchant

Internet

Merchant

Server

Electronic

Wallet

Certificate

Certificate

Internet

Issuer

Acquirer

Bank Net

PaymentGateway

Certificate

SET Purchase Flow Summary


Prepare to use set l.jpg

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 l.jpg

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 l.jpg

SET Purchase Screen


Live demo l.jpg

- Live Demo -


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