Customers could soon be paying for their shopping with their mobile phone as contactless payment technology took a step forward this month.

Visa Europe has introduced a mobile phone SIM card which can be used to make payments simply by waving a phone over a terminal. The SIM can be transferred between handsets and can be remotely deactivated by the user if the phone is lost or stolen.

Visa Europe head of innovation and new products Sandra Alzetta said: “This is cutting-edge technology. By working in partnership with other players in the market we can make these services a commercial reality.”

Visa Europe is conducting mobile payment trials in the UK and across Europe.