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Secure Electronic Transaction. Creating Debts Online with Confidence. SET Objectives. To encrypt critical information over the internet To separate the merchant from credit card information To link payment and order information. SET. Starring. Alice as the Cardholder

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Presentation Transcript
secure electronic transaction
Secure Electronic Transaction

Creating Debts Online with Confidence

set objectives
SET Objectives
  • To encrypt critical information over the internet
  • To separate the merchant from credit card information
  • To link payment and order information
slide3
SET

Starring

  • Alice as the Cardholder
  • Bob’s Beer Delivery as the Merchant
  • Visa as the Issuer
  • Wachovia as the Acquirer/Payment Gateway
dual signature

Dual Signature

How Bob can prove Alice paid for Natural Light and not Samuel Adams

dual signature creation
PIMD

PI

H

E kra

DS

POMD

H

||

OI

H

OIMD

Dual Signature Creation
how bob uses the ds
!

=

How Bob Uses the DS

DS = Ekra[ H( H(PI) || H(OI) ) ]

  • DS
  • PIMD
  • OI

Ekua [ Ekra[ H( H(PI) || H(OI) ) ] ]

H( H(PI) || H(OI) )

H( PIMD || H(OI) )

how wachovia uses the ds
!

=

How Wachovia Uses the DS

DS = Ekra[ H( H(PI) || H(OI) ) ]

  • DS
  • PI
  • OIMD

Ekua [ Ekra[ H( H(PI) || H(OI) ) ] ]

H( H(PI) || H(OI) )

H( H(PI) || OIMD )

payment processing
Payment Processing
  • Purchase Request
    • Alice to Bob’s Beer Delivery
  • Payment Authorization
    • Bob’s Beer Delivery to Wachovia
    • Wachovia to Visa
from alice to bob s beer
Sent on by Bob’s Beer Delivery to

Wachovia (Money Related)

Contains Key To Decrypt Dual Sig

(KPUB-Alice )

Used by Bob’s Beer Delivery

(Order Related)

From Alice To Bob’s Beer

PIMD

+

Order

Info

+

Dual Sig

+

Alice’s

Cert.

+

+

Dig Envelope

payment processing1
Payment Processing
  • Purchase Request
    • Alice to Bob’s Beer Delivery
  • Payment Authorization
    • Bob’s Beer Delivery to Wachovia
    • Wachovia to Visa
from alice to bob s beer1
Sent on by Bob’s Beer Delivery to

Wachovia (Money Related)

Contains Key To Decrypt Dual Sig

(KPUB-Alice )

Used by Bob’s Beer Delivery

(Order Related)

From Alice To Bob’s Beer

PIMD

+

Order

Info

+

Dual Sig

+

Alice’s

Cert.

+

+

Dig Envelope

from alice through bob to wachovia
From Alice Through Bob To Wachovia

Money Info Encrypted Using

Symmetric Key

+

Symmetric Key Encrypted Using

Wachovia’s Public Key

Dig Envelope

bob s beer to wachovia
KSBob’s Beer To Wachovia

Payment

Info

E

Dual Sig

OIMD

Temporary Symmetric Key Generated by Alice

digital envelope
KS

KPUB-Wachovia

Digital Envelope

E

Dig Envelope

obtaining the payment info
D

Payment

Info

KPRI-Wachovia

Dual Sig

OIMD

KS

KS

D

Obtaining The Payment Info

Dig Envelope

set interoperability
SET Interoperability
  • Software development on SET protocol
    • Brokat, Entrust, Globeset, GTE, IBM, TrinTech, Verisign
  • SET costs
    • Software development
    • Hardware and runtime increases with high volume of transactions
conclusion
Conclusion
  • Non-repudiation
  • Inherited credit card risks
  • Not widely used
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