RSA Data Security Inc. said Seoul Bank and its system integrator, Bara International, are licensing the RSA S/Pay tool kit to prepare the way for their participation in Visa's Korean pilot of the Secure Electronic Transactions protocol.

RSA Japan, a subsidiary of the California-based data encryption vendor, said the tool kit sale marked its official entry into the fast-growing Asian electronic commerce market.

Choong Wan Lee, Visa International's country manager for Korea, called it "commendable that a full system using RSA SET engines has been developed locally to allow truly safe electronic commerce transactions at this early stage."

S/Pay 1.1 is designed to help banks and other service providers navigate the complexities of developing secure payment systems for the Internet.

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