Singapore Telecom M1 (First Telecom, Singapore's third-largest mobile telecommunications service company) and CIMB (Lianchang International Bank is the second largest bank in Malaysia), MasterCard and Wirecard have released a mPOS to make more Small businesses, start-ups, and more busy companies can have better and more efficient alternatives to traditional cash payments. For example, some mobile vendors and small cafes can use this mPOS.
M1's mPOS allows mobile merchants to easily track and record all transactions and payment information. According to the mobile payment network, merchants can also generate electronic bills to send to customers at any time.
By using M1 Telecom's data service, merchants only need to pay $5.35 a month to get a mPOS for free, and then they can start the card-swapping business. In this regard, M1 Telecom also said that merchants will not have a fixed transaction quota per month and do not need to pay any margin. This mPOS can meet the daily payment needs of most merchants, and merchants are definitely interested in recording transaction data.
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