Secure Electronic Transaction

1
Secure Electronic Transaction

• Creating Debts Online with Confidence

2
SET Objectives

• To encrypt critical information over the internet
• To separate the merchant from credit card
  information
• To link payment and order information

3
SET
Starring

• Alice as the Cardholder
• Bobs Beer Delivery as the Merchant
• Visa as the Issuer
• Wachovia as the Acquirer/Payment Gateway

4
Dual Signature

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

5
Dual Signature Creation
6
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) )
7
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 )
8
Payment Processing

• Purchase Request
• Alice to Bobs Beer Delivery
• Payment Authorization
• Bobs Beer Delivery to Wachovia
• Wachovia to Visa

9
From Alice To Bobs Beer
PIMD

Order Info

Dual Sig

Alices Cert.


Dig Envelope
10
Payment Processing

• Purchase Request
• Alice to Bobs Beer Delivery
• Payment Authorization
• Bobs Beer Delivery to Wachovia
• Wachovia to Visa

11
From Alice To Bobs Beer
PIMD

Order Info

Dual Sig

Alices Cert.


Dig Envelope
12
From Alice Through Bob To Wachovia
Money Info Encrypted Using Symmetric Key

Symmetric Key Encrypted Using Wachovias Public
Key
Dig Envelope
13
Bobs Beer To Wachovia
Payment Info
E
Dual Sig
OIMD
Temporary Symmetric Key Generated by Alice
14
Digital Envelope
E
Dig Envelope
15
Obtaining The Payment Info
Dig Envelope
16
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

17
Conclusion

• Non-repudiation
• Inherited credit card risks
• Not widely used