What is the purpose of the Secure Electronic Transaction (SET) standard?

The Secure Electronic Transaction (SET) standard was developed specifically to enhance the security of credit card transactions conducted over the internet. Its primary goal is to provide a secure environment for online transactions by ensuring that the information exchanged between parties—such as the buyer, merchant, and payment service provider—is encrypted and authenticated. This protection is vital in preventing fraud and unauthorized access to sensitive data such as credit card numbers, enhancing trust in e-commerce.

By implementing various cryptographic techniques, SET helps safeguard both the customer's payment information and the merchant's data, addressing critical concerns related to online shopping. Therefore, option A accurately describes the primary purpose of the SET standard. Other options do not pertain to the specific focus on securing online credit card transactions, making them less relevant in the context of this question.