Sagem is among the mobile phone companies poised to employ new technology into their handsets to allow owners to use their phone to pay for goods online.
The company is joined by Nokia, LG, Samsung and Motorola in the project, which will see Near Field Communication (NFC) technology installed in their handsets.
Handsets which use NFC are expected to become available midway through next year in the UK.
The introduction of the technology follows a succession of successful trials in France, where nine out ten respondents said that they found the system to be user-friendly and secure.
Rob Conway, chief executive of the GSM Association, welcomed the moves and called on more manufacturers to move towards incorporating NFC into their products.
He said: "There is no doubt that there is a huge latent demand for a large variety of mobile transaction services, of which there is universal interest in proximity payments, as trials across the world have already shown.
“But this will require device manufacturers to make sure that the vast majority of commercially available handsets incorporate the Single Wire Protocol and Near Field Communications features as standard.”
The trails also found that eight of ten shops who used NFC approved of the speed of payments it delivered.