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Mastercard planning virtual card

MasterCard and CSI Enterprises are planning to bring a CSI Virtual MasterCard application to the iOS, Android and BlackBerry platforms in July, according to new reports.

According to Adriana Lee of TechnoBuffalo, this plan to allow users with a GlobalVCard to buy things using whichever of these mobile devices they want raises a big question.

“How’s this supposed to work without NFC?” Lee asked, according to TechnoBuffalo.

NFC, or Near Field Communication, is a cheap technology that swaps information between devices, which makes mobile banking possible. Currently, only the Android platform has NFC capability.

Darren Murph wrote on Engadget that considering no Blackberry devices or iOS devices on the market today have NFC capability, Mastercard’s new plan could mean one of two things.

“That’s either changing by July, or this here service won’t rely on NFC at all,” Murph wrote, according to Engadget.

The new MasterCard application is currently scheduled to launch in July. The move follows another ambitious partnership with Google on its NFC-based Google Wallet.

Visa also recently announced new steps toward mobile banking. By acquiring Fundamo and UK’s Monitise Plc., Visa is expecting to enhance its payment processing capabilities and play a large role in the mobile payment market.

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