Trintech Group, the Irish electronic payments software specialist, has been awarded the Secure Electronic Transaction (SET) trademark for its PayPurse wallet software.

The award was issued by SETCo the governing body that monitors global electronic commerce security standards making Trintech Group one of only four companies in the world to successfully complete a series of SET compliance tests for its Internet wallet software. The virtual wallet will appear on consumers' personal computers, securing their Internet transactions using encryption technology and a PIN-code to guarantee their identity. Visa and MasterCard devised the global SET standard to overcome fears about Internet privacy and security.