Singapore-based telco M1 Ltd.has partnered with CIMB, MasterCard and Wirecard to deploy an mPOS product to traditionally cash-based small businesses, startups, and "on-the-go" enterprises such as push-cart vendors and small cafes, according to a press release. 

The M1 mPOS also enables the merchant to track and view all transactions through the mobile app and online Web portal. Receipts are generated electronically and can be emailed to the customer.

The mPOS product is tied to an M1 data-bundled mobile plan chargeable at $5.35 per month, and merchants will receive a free card reader to enable them to start accepting card payments immediately, according to the announcement. M1 said there is no minimum monthly transaction commitment or deposit required, and merchants will enjoy attractive rates for transactions and daily payment settlement.