What encryption standard is widely used for secure transactions over the internet?

The widely used encryption standard for secure transactions over the internet is SSL (Secure Sockets Layer). SSL was developed to provide a secure channel between client and server over the internet. It encrypts the data transmitted between a web browser and a web server, ensuring that sensitive information, such as credit card details and personal data, remains private and secure during transmission.

Despite SSL being an older protocol, it laid the groundwork for modern secure communications on the web. It has undergone various updates and enhancements over the years. While TLS (Transport Layer Security) has largely replaced SSL in many applications due to its improved security features, SSL is often still referenced in discussions about internet security and is sometimes common in terminology associated with website security.

The other options have distinct purposes in the realm of security but are not primarily known for securing internet transactions in the same way SSL is recognized. PGP, for instance, is mainly used for encrypting emails, while SSH facilitates secure access to remote computers. Thus, SSL remains synonymous with establishing secure connections, even as its successor, TLS, is now more commonly implemented.