Implementation Aspects of SET/EMV

The threat of credit card fraud is arguably one of the most serious issues in e-commerce, since it makes consumers reluctant to engage in this alternative method of shopping. Secure Electronic Transaction (SET) was invented to address this issue, and it provides effective security for the entire Internet ecommerce transaction. However, SET has not really taken off; implementation issues appear to be the main factor restricting its adoption. Given the existing consumer concerns about e-commerce security, SET still appears to be very relevant to the Internet e-commerce transaction environment. The integration of SET with EMV is a possible route for facilitating the wider use of SET in Internet commerce transactions, since it could simplify user registration. The aim of this paper is to evaluate the effectiveness of SET/EMV integration for fraud reduction in e-commerce. In addition, this paper also considers the implementation feasibility of SET/EMV.