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Difference between Secure Socket Layer (SSL) and Secure Electronic Transaction (SET)

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  • Difficulty Level : Medium
  • Last Updated : 28 Jun, 2022
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Secure Socket Layer (SSL): 

Secure Socket Layer (SSL) is the normal security technology for establishing an associate encrypted link between an internet server and a browser. This link ensures that each knowledge passed between the online server and browsers stays personal and integral. SSL is associate trade normal and is employed by numerous websites for the protection of their online transactions with their customers. SSL permits counseling like Social Security numbers, MasterCard numbers, or login credentials to be transmitted firmly. 

Secure Electronic Transaction (SET): 

Secure Electronic dealings (SET) could be a system for making certain the safety of economic transactions on the web. it was supported at the start by Mastercard, Visa, Microsoft, Netscape, and others. With SET, a user is given an associate degree electronic case (digital certificate) and dealings are conducted and verified employing a combination of digital certificates and digital signatures among the client, a merchant, and also the purchaser’s bank during a means that ensures privacy and confidentiality. SET makes use of Netscape’s Secure Sockets Layer (SSL), Microsoft’s Secure dealings Technology (STT), and Terisa System’s Secure machine-readable text Transfer Protocol (S-HTTP). SET uses some however not all aspects of Public Key Infrastructure (PKI).

Difference between Secure Socket Layer (SSL) and Secure Electronic Transaction (SET):

S. No.Secure Socket LayerSecure Electronic Transaction
1.

Basics-

SSL is an encryption mechanism for order taking, queries, and other applications and is available on the customer’s browser. It does not protect against all security hazards and is naturally simple and widely used. SSL is a protocol for general-purpose secure message exchange. SSL protocol may use a certificate, but the payment gateway is not available. So, the merchant needs to receive both the ordering information and credit card information because the capturing process should be generated by the merchant. SSL protocol has been the industry standard for securing internet communication. 

Basics-

SET is a very comprehensive protocol. It provides privacy, integration, and authenticity. It is not used frequently due to its complexity and the need for a special card reader by the user. It may be abandoned if it is not simplified. SET is tailored to the credit card payment to the merchant. SET protocols hide the customer’s credit card information from merchant and also hides the order information from banks to protect privacy called a dual signature. The SET protocol is complex and more secure. 

2.

Developed by-

SSL protocol was developed by Netscape for the secure online transaction.

Developed by-

The SET protocol was jointly developed by MasterCard and visa to secure web browsers for a bank card transaction.

3.

Working-

SSL uses a combination of public-key and symmetric-key encryption to safeguard data transactions. The handshake technique is used by the SSL protocol, which permits the server to verify its identity to the client. In case of unsuccessful authentication, the connection will not be formed.

Working-

The dual signature mechanism is deployed by SET to safeguard a transaction. To use an e-commerce site, SET requires the purchase of software. The design of the protocol necessitates the client’s installation of an e-wallet.

4.

Integrity-

The technique of Hash functions is used for this purpose.

Integrity-

The technique of digital signatures is used for this purpose.

5.

Acceptability-

Its acceptability is more as compared to SET.

Acceptability-

SET acceptability is less because it’s necessary to build an open PKI.

6.

Functionality-

The Secure Sockets Layer (SSL) is not a payment protocol. SSL encrypts the communication channel between the cardholder and the merchant website and is not backed by any financial institution. As a result, SSL is unable to ensure the security of a transaction.

Functionality-

SET was created with the sole purpose of securing and ultimately guaranteeing a payment transaction. For example, increase in the possibilities for online retail growth only when consumer confidence grows in online shopping.

7.

Encryption-

The purpose of SSL lies in prevention of data tampering in client/server applications and has considerably weaker encryption, with a maximum of 128-bit encryption.

Encryption-

SET, which was created expressly to address the security of all parties involved in an electronic payment transaction, uses 1024-bit encryption throughout the transaction.

8.

Authentication- 

 SSL certificates are not endorsed by any financial institution or payment brand association, so they cannot effectively validate all parties.

Authentication-

Here, all parties get authentication to the transaction because SET’s certificates are backed not just by a Certificate Authority, but also by financial institutions and MasterCard International.

9.

Security-

SSL only protects the cardholder and the merchant, which is insufficient to prevent fraud. SSL transactions, in other words, are never assured.

Security-

SET enables transaction security from the cardholder’s desktop to the merchant via bank approvals and back through the gateway, leaving an indisputable audit trail and, as a result, a guaranteed transaction.

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