Difference between Secure Socket Layer (SSL) and Secure Electronic Transaction (SET)
Last Updated :
25 Sep, 2024
When it comes to online security, two important technologies are available i.e Secure Socket Layer (SSL) and Secure Electronic Transaction (SET). Both are designed to protect sensitive information during online transactions, but they serve different purposes and have distinct features. This article will cover both technology, their advantages and disadvantages, and how they different from each other.
What is 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 permits counseling like Social Security numbers, MasterCard numbers, or login credentials to be transmitted firmly.
Advantages of SSL
- SSL encrypts data to keep it safe from unauthorized access.
- Many regulations require SSL to secure online transactions.
- Works with most web browsers and servers.
- It can be used for securing emails and remote access, not just transactions.
Disadvantages of SSL
- SSL certificates can be costly especially for advanced validation.
- It can slow down servers and clients due to encryption overhead.
- It requires regular renewal and management of certificates.
What is SET?
Secure Electronic Transaction (SET) is a system designed to secure online financial transactions. It was initially supported by Mastercard, Visa, Microsoft, and others. SET ensures privacy and confidentiality by using digital certificates and signatures between the customer, merchant, and bank.
Advantages of SET
- It is offers end to end encryption to protect sensitive payment data.
- Keeps customer payment information hidden from merchants, enhancing trust.
- Meets industry standards like PCI DSS, helping to avoid penalties.
- It can easily fit into existing payment systems.
Disadvantages of SET
- Difficult to implement, especially for small businesses.
- Can be expensive to set up and maintain.
- It's requires special software and hardware, limiting its use.
- It May slow down payment processing.
Difference between SSL and SET
SSL | SET |
|---|
SSL secures communication between browsers and servers. Merchants manage both order and payment details. | SET secures credit card payments and hides customer payment details from merchants. |
It developed by Netscape for secure online transactions. | It developed by MasterCard and Visa for safe card payments. |
Developed by MasterCard and Visa for safe card payments. | Requires verification by both CAs and financial institutions. |
It can secure emails, websites, and other applications. | It has limited to online financial transactions only. |
Merchants can view the cardholder’s payment information. | Card details are hidden from merchants, ensuring privacy. |
It is easy to implement and suitable for small businesses. | It is harder to implement and more expensive to set up. |
Harder to implement and more expensive to set up. | Stronger encryption of 1024-bit for financial security. |
Conclusion
SSL and SET serve different purposes in the realm of online security. SSL is a general-purpose technology that provides encryption and security for a wide range of online activities, while SET is specifically designed for securing payment transactions.