Spanish bank makes first SET transactions

The first Secure Electronic Transaction (SET) 1.0 purchase over the Internet has been made. And the item? Gaming software from a company called Dirtesa. The customer was Sistema 4B, one of the largest banking servicers in Spain, which used Hewlett-Packard computer and software systems and VeriFone Internet payment products and technology and vGate 4.0, a virtual gateway which is based on the SET 1.0 protocol. The SET protocol, developed by major financial companies such as Visa and Mastercard, is designed to protect users and foster online business.

Sistema 4B, one of the largest banking servicers in Spain, has made the first Secure Electronic Transaction (SET) 1.0 purchase over the Internet, according to company officials.

The SET protocol, developed by major financial companies such as Visa and Mastercard, is designed to protect users and foster online business.

Using Hewlett-Packard computer and software systems and VeriFone Internet payment products and technology, Sistema was able to implement this service, originally introduced to 38 banks last quarter. Sistema also uses vGate 4.0, a virtual gateway which is based on the SET 1.0 protocol, in its online business.

Sistema 4B's initial purchase was for gaming software from Dirtesa, a software company based in Spain. In its second online transaction the company bought gift items from Club Visa, a specialty merchandiser in Spain.

"Sistema 4B is looking to today's top solutions, such as HP and VeriFone products, to guarantee the interoperability among our member banks and facilitate our entry into Internet commerce," said Jose Sanjuan, Sistema 4B spokesman, in a company statement.

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