The nova.m wallet will use MasterCard PayPass technology to enable customers to make payments by tapping their mobile phones against specially equipped terminals.

Asap TP says it is working with unnamed retail and transport partners to have the system ready at various sites "in the months to come".

The firm says is wallet offers more than just payments, providing merchants with value-added services such as loyalty programmes, whether in-store, online, over-the-phone or through point-of-sales processing.

Ajmal Samuel, president & CEO, Asap TP, says: "With the tap-and-go functionality and near field communications (NFC) enabled for payment and non-payment transaction provisions, we believe we have a strong competitive proposition to enhance the consumer experience both online and on the go."