Visa in no hurry to rush SET tests
By Jim Kerstetter
Visa International Inc. and MasterCard
Inc., although partnered for the sake of an
specification, have vastly different views
of where that
A Visa USA official in Foster City, Calif.,
downplayed the near-completion of the SET
Electronic Transaction) specification for
the Internet that MasterCard officials
discussed last week.
In fact, Visa is striking a tone that's as
MasterCard's is aggressive, advising
avoid using their credit cards on the
Internet until the
SET specification is completed and a
process for SET-enabled software is
"We believe that the card holder and the
the best opportunity for a secure
transaction with a full
SET environment," said Stephanie
president of electronic commerce for Visa
don't think that's there yet."
That's not to say Visa isn't involved in
SET testing of its
own, and Keller-Bottom said Visa wants to
spec finished as soon as possible. She
however, that rushing SET to consumers
mistakes that ultimately slow the
Keller-Bottom said Visa is running
compatibility tests of
SET-enabled applications in an internal
Several interoperability tests with some of
member banks are also planned for the near
although Keller-Bottom would not name them.
Unlike MasterCard, which is relying on
such as the Open Group for interoperability
Visa will manage its interoperability
projects, she said.
Visa also is looking for ways to pre-load
into a SET transaction.
There's no rush to SET standardization,
said, and there's no need to commit to a
"When we know our time frames, we will be
communicating them to all the parties," she
Last week, MasterCard officials said they
begin interoperability testing of competing
products by the end of the month. They also
final version of SET to be printed by June.