AMEX signs on to MS Net payment plan

American Express today licensed the Microsoft version of the Secure Electronic Transactions (SET) protocol for secure Net payment systems already endorsed by Visa and MasterCard.

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American Express today licensed the Microsoft version of the Secure Electronic Transactions (SET) protocol for secure Net payment systems already endorsed by Visa and MasterCard.

The SET software is intended to let online merchants verify the identities of both buyers and sellers of goods on the Internet and to authorize transactions. The technology will also allow online merchants to send credit-card information directly to a credit-card company such as American Express, thereby avoiding third-party surcharges on transactions, the company said.

Online merchants will be able to use the SET protocol to accept American Express transactions in the second half of 1996, according to American Express officials.

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