Meet the Expert
Ryan Hughes
Founder, Bardown Inc.
- Championed digital asset management before the data boom on consumer devices, and mobile applications before app stores existed; currently playing a leadership role in the mobile payments market.
- Key player in the creation of SoftCard, a joint venture involving AT&T, Verizon Wireless and T-Mobile USA to develop the world's first wallet to span multiple banks, networks, and mobile operators.
- Currently leveraging the real world experience of deploying mobile payment solutions to assist banks, mobile network operators, handset manufacturers, and everyone in between to deploy products that engage their consumers.
- Named by in-Mobia as one of top 6 influencers in wireless industry; by Sports Business Journal as one of top 10 influencers in mobile sports; by Billboard as one of top 10 executives in mobile music.
- Formerly two-time captain of the Cornell varsity hockey team, a second round draft pick in the 1990 NHL draft, and leading scorer and MVP of the Boston Bruins minor league team in 1995-96.
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Mobile Payments
Founder, Bardown Inc.
Defined Terms
- Digital wallet
- An electronic device that allows a consumer to make electronic commerce transactions, including purchasing items online with a mobile phone or using a smartphone to complete a transaction at a point of sale in a retail location.
- Embedded secure element (ESE)
- A secure, tamper-resistant storage and execution environment holding credit card information, including payment assets and cardholder date. The element is embedded in the smartphone.
- Host card emulation (HCE)
The software architecture that provides exact virtual representation of various forms of electronic identity.
- Near field communication (NFC)
- Technology that enables smartphones and other devices to establish radio communication with each other by touching them together or bringing them into proximity, typically at a distance of 10 centimeters (3.9 inches) or less.
- Subscriber identity module (SIM)-based secure element
- An integrated circuit that is intended to securely store the subscriber identity and the related keys used to identify and authenticate subscribers on smartphones, tablets and computers.
- Token service provider (TSP)
Part of the technology that provides security for credit card data. The process of tokenization reduces the value of stored credentials so that they can be used only within a very specific domain. TSPs have the ability to issue and manage the life cycle of payment credentials, implement tokenization to reduce payment card fraud and manage transactions to integrate with the authorization host, such as validating encrypted information and processing checks.
- Tokenization
- An increasingly popular approach for the protection of sensitive data is the use of data substitution with a token (or alias) as a replacement for a real credit card number. In the process of tokenization, actual cardholder data is used in a payment transaction and, once the transaction is authorized, this very sensitive data is sent to a centralized and highly secure server called a “vault” where it is stored securely.
- Trusted execution environment (TEE)
A secure area of the main processor of a smartphone or a tablet that protects the confidentiality and integrity of code and data loaded inside.
- Trusted service manager (TSM)
- The area of a near field communication (NFC) ecosystem that acts as a neutral broker to set up technical connections and business agreements with mobile network operators, handset manufacturers or other entities that control the secure element on mobile phones. The TSM enables service providers to distribute and manage applications remotely by allowing access to the secure element in NFC-enabled handsets.
Mobile Payments:
Defined Terms
Expert Topic