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  • E-Commerce: Credit Cards & Set

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    Abirami Sridhar
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    This document provides an overview of credit cards and the Secure Electronic Transaction (SET) protocol. It defines what a credit card is and how it works, including interest charges, benefits to customers and merchants, and parties involved. It then describes the SET protocol, which was developed to securely process credit card transactions online using encryption, authentication, and digital signatures to protect confidentiality, integrity, and privacy. The SET transaction process includes authorization between the customer, merchant, bank, and payment network.

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    Credit Card &SET

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    This document provides an overview of credit cards and the Secure Electronic Transaction (SET) protocol. It defines what a credit card is and how it works, including interest charges, benefits to customers and merchants, and parties involved. It then describes the SET protocol, which was developed to securely process credit card transactions online using encryption, authentication, and digital signatures to protect confidentiality, integrity, and privacy. The SET transaction process includes authorization between the customer, merchant, bank, and payment network.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    25 views18 pages

    E-Commerce: Credit Cards & Set

    Uploaded by

    Abirami Sridhar
    This document provides an overview of credit cards and the Secure Electronic Transaction (SET) protocol. It defines what a credit card is and how it works, including interest charges, benefits to customers and merchants, and parties involved. It then describes the SET protocol, which was developed to securely process credit card transactions online using encryption, authentication, and digital signatures to protect confidentiality, integrity, and privacy. The SET transaction process includes authorization between the customer, merchant, bank, and payment network.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    of 18

    E-COMMERCE

    CREDIT CARDS & SET

    BY
    ABIRAMI.U
    CONTENTS
    Credit Cards
    How Does It work
    Interest Charges
    Benefits to the Customers
    Demerits to the Customers
    Benefits to the Merchants
    Parties Involved
    Transaction Steps
    Types of Credit Cards
    SET
    CREDIT CARDS
    A Credit card is a small plastic
    card.

    It allows the holder to buy


    goods and services.
    CREDIT CARDS

     Credit cards allow the consumers to


    'revolve' their balance, at the cost of
    having interest charged.

     Its size is defined as 85.60 × 53.98 mm by ISO.


    HOW DOES IT WORK
     Credit cards are issued after an account has been
    approved by the credit provider.

     Then the cardholders can use it to make purchases at


    merchants accepting that card.
    HOW DOES IT WORK

    When a purchase is made, the credit card user agrees


    to pay the card issuer. The cardholder
    signs a receipt with a record of the card details and
    indicating the amount to be paid or by entering a
    personal identification number (PIN).
    INTEREST CHARGES

    Credit card issuers usually do not pay interest charges


    if the balance is paid in full each month.

    But typically will charge full interest on the entire


    outstanding balance from the date of each purchase if
    the total balance is not paid.
    BENEFITS TO THE
    CUSTOMERS

     Convenience

     Security
    DEMERITS TO THE
    CUSTOMERS

    High Interest.

    Inflated Pricing for All Consumers.


    BENEFITS TO THE
    MERCHANTS

    Secure transactions

    Discourages theft by
    others
    TYPES OF CREDIT CARDS

    Secured Credit Cards

    Pre-Paid Credit Cards


    CREDIT CARD PROTOCALLS
    SET [Secure Electronic Transfer]

    SSL [Secure Socket Layer]

    TLS [Transport Level Security]

    STT [Secure Transaction Technology]

    SEPP [Secure Encryption Payment Proto call]


    SECURE ELECTRONIC TRANSACTIONS

    The credit cards on internet requires,

    • Authentication of customers and merchants

    • Confidential transactions
    SET

    Developed by Visa, Master cards

    Designed to protect credit card transactions with


    confidentiality, trust and privacy
    PARTICIPANTS IN SET
    • Card Holder
    • Merchant
    • Bank
    • Issuer
    • Internet
    • Acquirer
    • Payment Network
    SET REQUIREMENTS

    Confidentiality
    Integrity
    Authentication
    Security by creating protocalls
    Inter-operablity
    SET TRANSACTIONS
    1. Customer places the order
    2. SET sends order and payment information to the
    merchant
    3. Merchant forwards the payment information to the
    bank.
    4. Bank checks for authorization of payment
    5. If valid customer then the bank authorizes the payment
    6. Merchant completes the order
    7. Merchant receives payment from the bank
    8. Bank send the bill details to the card holder
    MERITS OF SET
    Confidentiality
    Integrity
    Authorization of customer and merchant by digital
    signatures
    Privacy by separation of order and payment
    information using dual signatures

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