What is SET ?

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What is SET ?
The Internet payment solution
http//www.boci.com.hk
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Some Statistics

• According to VISA statisticsG
• 1998 Internet transaction US15 billion.
• 2000 reach US40 billion
• From our Cardholder survey
• SECURITY problem is a major barrier to Internet
  shopping.

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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

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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) -gt 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.

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Get the SET Digital Certificate
Merchant Certificate (E-Business Registration)
Cardholder Certificate (E-Credit Card)
VISA - Verisign MasterCard - G.T.E.
Merchant
Cardholder
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Purchase by SET E-Wallet
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SET Purchase Flow Summary
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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)

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SET Purchase Steps

• (1) Browse the SET shops, and select goodsF
• (2) Pay with SET Wallet (E-Wallet will wake-up)F
• (3) Use your Wallet Password to open the walletF
• (4) Select an Digital Certificate to pay for the
  order
• (5) Authorization take a few second to complete
• (6) Merchant arrange for deliveryF
• (7) Cardholder can check the order history
  through the E-WalletC

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SET Purchase Screen
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• - Live Demo -