Secure Electronic Transaction Creating Debts Online with Confidence.

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Presentation transcript:

Secure Electronic Transaction Creating Debts Online with Confidence

SET Objectives  To encrypt critical information over the internet  To separate the merchant from credit card information  To link payment and order information

SET  Alice as the Cardholder  Bob’s Beer Delivery as the Merchant  Visa as the Issuer  Wachovia as the Acquirer/Payment Gateway Starring

Dual Signature How Bob can prove Alice paid for Natural Light and not Samuel Adams

Dual Signature Creation PI OI || H PIMD HOIMD POMD HDS E kra

How Bob Uses the DS  DS  PIMD  OI DS = Ekra[ H( H(PI) || H(OI) ) ] Ekua [ Ekra[ H( H(PI) || H(OI) ) ] ] H( H(PI) || H(OI) ) H( PIMD || H(OI) ) = !

= How Wachovia Uses the DS  DS  PI  OIMD DS = Ekra[ H( H(PI) || H(OI) ) ] Ekua [ Ekra[ H( H(PI) || H(OI) ) ] ] H( H(PI) || H(OI) ) ! H( H(PI) || OIMD )

Payment Processing  Purchase Request  Alice to Bob’s Beer Delivery Alice to Bob’s Beer Delivery  Payment Authorization  Bob’s Beer Delivery to Wachovia  Wachovia to Visa

From Alice To Bob’s Beer Dig Envelope PIMD Order Info Dual Sig Alice’s Cert. Used by Bob’s Beer Delivery (Order Related) Sent on by Bob’s Beer Delivery to Wachovia (Money Related) Contains Key To Decrypt Dual Sig (K PUB-Alice )

Payment Processing  Purchase Request  Alice to Bob’s Beer Delivery  Payment Authorization  Bob’s Beer Delivery to Wachovia Bob’s Beer Delivery to Wachovia  Wachovia to Visa

From Alice To Bob’s Beer Dig Envelope PIMD Order Info Dual Sig Alice’s Cert. Used by Bob’s Beer Delivery (Order Related) Sent on by Bob’s Beer Delivery to Wachovia (Money Related) Contains Key To Decrypt Dual Sig (K PUB-Alice )

From Alice Through Bob To Wachovia Dig Envelope + Money Info Encrypted Using Symmetric Key Symmetric Key Encrypted Using Wachovia’s Public Key

Bob’s Beer To Wachovia Payment Info Dual Sig OIMD E Temporary Symmetric Key Generated by Alice KSKS

Digital Envelope E KSKS Dig Envelope K PUB-Wachovia

Obtaining The Payment Info D Payment Info Dual Sig OIMD Dig Envelope KSKS D K PRI-Wachovia KSKS

SET Interoperability  Software development on SET protocol –Brokat, Entrust, Globeset, GTE, IBM, TrinTech, Verisign  SET costs –Software development –Hardware and runtime increases with high volume of transactions

Conclusion  Non-repudiation  Inherited credit card risks  Not widely used