M1, a full-service telecommunications company in Singapore, has partnered with CIMB, MasterCard and Wirecard, to launch a new mobile point of sale (mPOS) solution that enables merchants to accept credit, debit and prepaid card payments anytime, anywhere.
The M1 mPOS solution, which allows smartphones and tablets to act as mPOS terminal, aims to target cash-based small businesses, startups, and ‘on-the-go’ enterprises such as push-cart vendors and small cafes.
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Subscription to the service, which is linked to a M1 data-bundled mobile plan, will cost S$5.35 per month.
Using this mPOS solution, merchants can track and view all transactions via the mobile app and online web portal. Also, receipts can be electronically generated and emailed to customers, according to the telecom company.
Additionally, merchants will receive a free card reader to instantly start accepting card payments. The service does not require a deposit or minimum monthly transaction commitment.
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