MYHSM Appoints John Cragg as Chief Executive Officer


MYHSM Ltd, the global provider of Payment Hardware Security Modules (PHSM) as-a-Service, has appointed experienced and seasoned industry professional John Cragg as its new CEO. With over 30-years’ experience in the tech industry, John has joined MYHSM from his previous position as Global Head of Business Development at nCipher, a cryptographic solution provider and hardware security module (HSM) specialist, and formerly part of Thales e-Security.

John has been instrumental in establishing nCipher’s Global Technology Partner Program, allowing the company’s industry-leading cyber security techniques to be deployed in market verticals such as eIDAS, smart metering, and mobile payments. Prior to this, John worked in industries ranging from engineering, telecommunications and networking, holding senior global roles in organisations such as Cabletron, STC and Thales.

MYHSM provides Payment Hardware Security Modules (PHSM) as-a-Service, delivering secure, versatile, and scalable hosted solutions in the cloud. The company alleviates the need for investment in hardware, secure facilities, management, and ongoing PCI compliance overheads such as card scheme security audits. This significant hire follows the recent launch of MYHSM’s services utilising Thales’s payShield 9000’s – a global first. John’s experience and expertise will be pivotal in developing the proposition into the global de-facto standard for PHSM as-a-service.

From testing to pilot to full roll-out, MYHSM provides a unique, cloud based PHSM offering to a wide spectrum of customers including merchants, acquirers, payment service providers (PSP), payment facilitators (PayFac), and issuers. Benefits are many including simplified operations, reduced costs, dynamic scalability, and the reassurance that MYHSM will deliver best-in-class performance with global reach.

Speaking about his appointment, John commented: “I have always been drawn to organisations that leverage the latest technologies to offer industry leading services. MYHSM is unquestionably one such organisation having had the vision to host PHSMs in the cloud. The benefits are significant for any business which processes or routes financial transactions. I’m extremely excited to be given this opportunity to build a world-class team and deliver this compelling proposition to customers across the globe.

Phil King, CEO at Licentia added: “John is a highly regarded professional in both the Fintech and security sectors having worked for multiple world-class technology companies. His capability is perfectly aligned with Licentia’s vision, as 100% owners MYHSM and MYPINPAD, as they rapidly grow to become industry leaders in their field. The entire MYHSM team and I are thrilled to welcome him on board.”