Microsoft Corp., Hewlett-Packard Company and VeriFone said they plan to work together to roll out pilot and production solutions based on the secure electronic transaction (SET) protocol standard, allowing merchants to set up Internet storefronts, accept Internet payments and conduct SET transactions over the Web. Microsoft will provide merchant commerce software solutions; HP will contribute hardware and software systems, security solutions, integration and worldwide support; and VeriFone will supply its Internet payment products and technology. HP recently agreed to acquire VeriFone.
The three companies had earlier agreed to cooperate on e-commerce solutions, but now say their approach marks the first "end-to-end" solution supporting the SET standard. The SET protocol, originally created by Visa and MasterCard, is being developed by Visa, MasterCard, VeriFone and other companies as an emerging standard for Internet bank card transactions.
Copyright May 1997, Crain Communications Inc.