Over in Mexico, some phone owners are using their mobile to pay restaurant bills and taxi fares.

Well this technology could be set to go global.

Visa has announced that it is teaming up with phone providers to offer services to mobile phone users.

The services will come to phones powered by Google's Android platform, as well as Nokia, which is going to sell the specially designed 6212 phone.

This will have embedded technology which will allow the phone owner to wave their mobile at an electronic reader to make payments as well as use the handset for making remote payments and carrying out money transfers.

Visa said it was still developing its application to allow in-store "contactless" payments by cell phone for Android.

But, in the meantime, Android fans will still be able to get alerts when their card is being used and also access discounts from shops.

"The application will also work with Google maps and location technology to help users find nearby cash machines and stores where special offers are available", adds Reuters.

This application is only going to be available to Visa users who bank with JPMorgan Chase initially but other bank cards are to be added in the months afterwards.