Becoming a TSP is not a role many can execute successfully, but First Data Corporation may be one of the few that can pull it off.

The role of the Token Service Provider, or TSP, is to provision tokens into all devices that will be involved in payments, from browsers and smartphones to appliances and watches. This demands tight integration to each manufacturer and device as well as to the Token Vault Providers, which is no small undertaking. Time will tell if the visibility this gives First Data across issuance and acceptance proves sufficiently valuable.