Visa’s currently collaborating on mobile payments system with both Nokia and Google Android.

This isn’t the first time the idea of a mobile payment system’s been attempted. But the mobile phone boom of the past two years has seen 3 billion spread worldwide, making any mobile-based system far more attractive to consumers and businesses.

What features will Visa try first? Owners of the T-Mobile G1 and other upcoming Android phones, get three services before the end of the year: Alerts, Offers and Locator

With Alerts consumers will receive what Visa calls “near real-time” notification of purchase activity, based on cardholder-defined rules defined.

Offers and Locator will spread “targeted offers” to cardholders, based on purchase history. It will also show consumers nearby locations Visa-accepting shops or ATMs.

In essence, your business gets a marketing partner if it takes Visa.

The services will at first be offered to U.S. Chase Visa card holders. Visa plans to add more banks later.

Visa’s developing a payment app that will let consumers to make mobile payments with Android phones.