Asian Bank, MasterCard Join in SET Initiative.(Brief Article)

MasterCard International and a Malaysian bank have announced one of the more ambitious on-line shopping programs to make use of the Secure Electronic Transaction protocol.

The card association and Hong Leong Bank said they expect to issue digital certificates to as many as 10,000 cardholders by yearend to enable on-line purchases protected by the Internet payment standard known as SET.

The system has progressed more rapidly in the Asia-Pacific region and Europe than in North America. MasterCard has SET programs in Australia, Hong Kong, Japan, Korea, Singapore, and Taiwan. Malaysia, with its national policy of promoting electronic commerce, could prove …