In the U.S., credit card companies and wireless providers have spent the greater part of the year discussing ways in which to turn mobile phones into payment devices. Across the pond, one UK bank has found its own way.

Barclaycard, furnished by Barclays, introduced a new "smart" sticker to be affixed to mobile phones, effectively turning them into payment devices. The sticker, called PayTag, will enable users of Barclaycard Visa to pay for goods with special readers that will be available at shops, restaurants and Tube stops around the UK.

According to Digital Spy, PayTag is one-third the size of a regular credit card, and easily stuck to the back of any mobile phone. Using the card, credit card customers will be limited to small payments of up to £15. However, by June, the credit limit will rise to £20.

"More than half of us say that the item we're most lost without is our mobile phone, so we're giving people the option of using them to make easy, convenient, everyday payments without the need to upgrade their current handset," said David Chan, the chief executive of Barclaycard consumer Europe.

PayTag is available free to all Barclaycard Visa credit card customers.