CSI Virtual MasterCard app allows you to create Virtual MasterCard accounts in iOS, Android and BlackBerry

Quite a bit of buzz hit today about the CSI Enterprises‘ CSI Virtual MasterCard app that is due to be released in July for iOS, Android and BlackBerry. As excitement reverberated around the web, rumors started to circulate about the company knowing of NFC features that could be built into the upcoming iPhone 5 and of an NFC-enabled BlackBerry that would emerge before the 9900.

CSI Virtual MasterCard app creates virtual card numbers with attributes you can set.

We wanted to look a little further in to the story before we posted, and we found out it may not be a mobile wallet like we are coming to think of one, like say Google Wallet. In fact, after reading through the company‘s website it soon became clear that the CSI Virtual MasterCard is a really clever way to make your own virtual credit card number to use with a specific company or for a particular PO and a way to give the CSI Virtual MasterCard unique attributes. For example, you pay your business electric bill with a CSI Virtual MasterCard number, you can give this specific bill a card number of its own and can set rules of how your utility provider can use the card details you provide. You could only allow payments up to $500 to be processed or even set up a CSI Virtual MasterCard number for a team member for expenses and set a budget for the card. Each CSI Virtual MasterCard is simply an extension of your main account, and extending the service to mobile devices means you can create new CSI MasterCard numbers on the fly.

CSI Virtual MasterCard apps could allow NFC Payments

The CSI Virtual MasterCard apps for iOS, Android and BlackBerry could very well handle NFC Payments or use an alternative payment method to bring mobile payments to mobile devices. It could even house a mobile wallet as the program does give rewards for using the virtual cards, and at the moment it looks as if we will just have to wait until July to find out what the CSI Virtual MasterCard can do.