Mobile payment solution provider Airtag has released a do-it-yourself kit containing a number of tools to enable users to build their own NFC mobile payment app.

The product targets banks and financial institutions and it is promoted as a set of instruments to test and develop contactless payments systems compatible with MasterCard’s PayPass network.

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The kit contains a Samsung Galaxy S3 smartphone, a USB contactless card reader, which simulates an NFC compatible POS terminal, demo tags, which simulate high and low transaction value payments, and five smartcards.

The kit also includes a year subscription to tutorial services offered by Airtag, and access to MasterCard’s Mobile PayPass UI SDK, a free software package for mobile payment app development released last September.

The price of the toolbox is EUR3490 (USD4557).

James Anderson, senior vice president of mobile product development at MasterCard said: "The AIRTAG Kit will help MasterCard partners more easily assemble the components they need, and access the support necessary, to leverage the full potential of the Mobile PayPass UI SDK."

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According to a recent report by the research firm Juniper, as more handsets are equipped with the technology, NFC contactless payments are set to rise by 7 times in the next five years, reaching USD180bn in 2017.