assuming someone's identity usually for economic gain, by illegally obtaining confidential information such as a Social Security number or a bank account or credit card number pretexting Using an invented scenario (the pretext) that creates legitimacy in the target's mind in order to increase the likelihood that a victim will divulge information or do something If the backend service protocol is HTTP/2, your backends must use TLS. list-style-type: upper-alpha; We use credit cards to process deposits, and we record on a registration card the customers’ credit card number and ask for the name on the credit card. credit card payment ; cheque payment ; electronic cash payments ; payment of small amounts for internet services; 2. Secure Electronic Transaction (SET) is a communications protocol standard for securing credit card transactions over networks, specifically, the Internet.SET was not itself a payment system, but rather a set of security protocols and formats that enabled users to employ the existing credit card payment infrastructure on an open network in a secure fashion. .kensFaq_questionListItem { The Secure Electronic Transaction protocol is used for . A protocol that protects data, such as credit card numbers as they are being transmitted between a customer and online vendor or payment company. It could be set to accommodate the first Requested Credit Limit or the Size of the first Order: It should not be done in isolation but by a combination of the other methods that are discussed in this article. By using our site, you The bank must keep for five years after the account is closed, or in the case of credit card accounts, five years after the account is closed or becomes dormant, all identifying information it gathers about the customer to satisfy the requirements of § 103.121(b)(2)(i) of the CIP rule. For example, if the backend service protocol is HTTPS, the backends must be HTTPS servers. SET also needs to provide interoperability and make use of best security mechanisms. We’ll send you a unique 6-digit OTP by text message to use. margin-left: 13px; If your cost to acquire a customer is around $10, and effectively you're paying the customer back in four to five months, that allows you to ship products that are typically expensive for competitors to acquire. Website security is not just for online stores, however. The customer obtains a credit card account, such as MasterCard or Visa, with a bank that supports electronic payment and SET. It has to provide mutual authentication i.e., customer (or cardholder) authentication by confirming if the customer is intended user or not and merchant authentication. The Store Customer Profile option can be chosen when performing a transaction in the Virtual Terminal, or a Customer Profile can be stored manually using the Add New Customer button on the Customers page. They do this by phone, by email, through fake websites, and sometimes even via text message.In one scam, for example, you may verify some personal information in a call that you think is from your credit card issuer’s fraud department, but it's really from a scammer. Cyber Security Tutorials, Copyright © 2021 | ExamRadar. 15) B. Format: 14 digits which can be formatted or unformatted (dddddddddddddd) and must pass the Luhn test. We only enter the credit card number in our credit card processing machine. They use high grade encryption and the https security protocol to communicate with your browser software. SSL/TLS includes protocol mechanisms to enable two TCP users to determine the security mechanisms and services they will use. * Visa’s Zero Liability Policy does not apply to certain commercial card and anonymous prepaid card transactions or transactions not processed by Visa. If you use the camera to enter the card information, the information is never saved on your device or photo library. Requirements in SET : Get ready for a facepalm: 90% of credit card readers currently use the same password. In addition to the Address Verification Service and Card Verification Value results, ChargeLogic has a full Fraud Protection Suite to … Secure Electronic Transaction - SET: A form of protocol for electronic credit card payments. It has also a magnetic strip embedded in it which is used to read credit card via card readers. The CVV code is not encoded in the card’s strip or chip, nor is it indicated by the 15- or 16-digit number on the card face. Get hold of all the important CS Theory concepts for SDE interviews with the CS Theory Course at a student-friendly price and become industry ready. Ask the customer for using another card or contacting their bank. ChargeLogic encrypts sensitive customer account information, while still allowing recently used credit cards to be on file for easy reference. It uses different encryption and hashing techniques to secure payments over internet done through credit cards. Electronic Shopping Mall 20) D. EDI and private industrial networks. It has to keep the PI (Payment Information) and OI (Order Information) confidential by appropriate encryptions. Secure Electronic Transaction (SET) Protocol, Difference between Secure Socket Layer (SSL) and Secure Electronic Transaction (SET), Difference between File Transfer Protocol (FTP) and Secure File Transfer Protocol (SFTP), Applications of Electronic Point of Sale (EPOS), Difference between Electronic Signature and Digital Signature, Hot Standby Router Protocol (HSRP) and Virtual Router Redundancy Protocol (VRRP), Difference between Stop and Wait protocol and Sliding Window protocol, Difference between Serial Line Internet Protocol (SLIP) and Point-to-Point Protocol (PPP), Cisco Discovery Protocol (CDP) and Link Layer Discovery Protocol (LLDP) in Data Link Layer, Difference between Border Gateway Protocol (BGP) and Routing Information Protocol (RIP), Difference between Secure Socket Layer (SSL) and Transport Layer Security (TLS), Create your own secure Home Network using Pi-hole and Docker, Trust Based Energy-Efficient and Secure Routing Protocols for IoT, Sliding Window Protocol | Set 1 (Sender Side), Sliding Window Protocol | Set 2 (Receiver Side), Sliding Window Protocol | Set 3 (Selective Repeat). 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