Issuing and storing of payment credentials

摘要

A system and method of issuing payment credentials to a consumer is disclosed. A payment processing network sends payment credentials and an identifier of a consumer to whom the payment credentials belong to a secure gateway. The secure gateway encrypts or zone translates the payment credentials and sends them to a mobile device of the consumer through a secure communication channel. The mobile device includes a hardware security module (HSM) which stores the payment credentials to be used for subsequent financial transactions by the consumer. Multiple sets of payment credentials may be stored on the HSM, corresponding to multiple payment accounts belonging to the consumer.