Tech site Engadget has confirmed that MasterCard Worldwide will be joining CSI Enterprises Inc. to offer an app for iPhones, Android smartphones and BlackBerry devices allowing GlobalVCard holders to use their mobile devices make payments.

CSI specializes in corporate and fleet payment cards as well as virtual, single-use accounts for corporate accounts payable departments. According to a website set up for the new mobile application, the program will work like a single-use credit card. CSI customers, using either a credit line or prefunded account, will be able to use the application to generate a MasterCard number for use at the point of sale, presumably both online as well as at brick-and-mortar locations. The virtual card can even be sent to employees and vendors. Contrary to the implications in the Engadget story, the website indicates the app is only available to CSI corporate customers.

No additional information on the timing of the new program is given on the program's website other than summer 2011. Engadget's post says the app is expected to release in July.