NXP Semiconductors has launched its new white label wallet solution that is developed on the NXP Secure Service 2GO Platform.

Introduced in collaboration with Mastercard and Visa, the new platform, called mWallet 2GO, is developed to add mobile payment enabled capability to any wearable device including IoT (Internet-of-Things) device.

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It is expected to cater to the original equipment manufacturers with a validated turn-key solution.

German company Montblanc is the first company to use mWallet 2GO to launch its own mobile wallet solution for its TWIN smart strap.

NXP senior vice-president of secure transactions and identification solutions Rafael Sotomayor said: “mWallet 2GO extends our market-leading silicon offering to a truly full service and system solution for mobile payment.

“Following the announcement of MIFARE 2GO, this once again proves how NXP is at the forefront of transforming whole ecosystems.

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“The company’s success in mobile payment implementations around the world validates NXP’s position to pave the way for new exciting secure payment devices to market.”

The new solution utilises NXP’s various platforms including Near Field Communications (NFC), Secure Element (SE), SE JavaCard operating system, SE applets, SEMS (Secure Element Management Service), wallet application and software developer kit (SDK), wallet server and MDES (Mastercard Digital Enablement Service) and VTS (Visa Token Service).