Improving System Security and User Privacy in Secure Electronic Transaction (SET) with X.509 v3 Certificate

With the advancement of internets, user’s transaction is at ease, timely manner and effective wise through online payment method, so also cybercriminals become increasingly more prompt in areas like e-commerce sites, financial institutions, payment processes and other online transactions. Therefore the need for the system security and privacy became the central issues for the acceptance of online payment methods in particular and growth of the Internet market in general. Using SET as an open encryption and security specification designed to protect credit card transaction on the internet. This paper proposes a new approach for increasing security by avoiding privacy violation using Public Key Infrastructure, X.509 certificate and Format Preservation encryption method, the credit card number is encrypted using public key algorithm and re-encrypted using Format preservation Encryption algorithm and finally stored in the X.509 version 3 certificate private extensions. This technique can be used to improve the security of the user credit card information against card fraud or the compromise of data associated with the account.