Magazine article American Banker

MasterCard, Visa Use Symbolism to Tout Reliability of SET Protocol

Magazine article American Banker

MasterCard, Visa Use Symbolism to Tout Reliability of SET Protocol

Article excerpt

MasterCard and Visa are reducing their Internet security message to a simple logo.

Unveiled last week at a San Francisco gathering of technology companies supporting the associations' Secure Electronic Transactions protocol, the trademark will appear on software and Web sites that meet the SET technical specifications.

The symbolism makes tangible the progress MasterCard, Visa, and their technology associates have been making toward a system for guaranteeing credit card transactions over open computer networks through digital certification and related security techniques.

"We expect to see it start showing up on products later this year," Steve Herz, Visa International's senior vice president of Internet commerce, said of the SET mark.

It is likely to be one of a series of trust symbols that corporations hope will assure a public that harbors doubts about Internet safety.

Several prominent software companies have coalesced around a privacy framework called TRUSTe, which will communicate through symbols the extent to which a service provider pledges not to share personal information.

RSA Data Security Inc., the data encryption company that is in the inner circle of SET technology partners, has promoted its "encryption engine" logo as a symbol of security. And there is talk that the Banking Industry Technology Secretariat, a division of the Washington-based Bankers Roundtable, will sponsor a "seal of approval" for interactive banking technologies. …

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