Development of Mobile Payment in E-commerce

Mobile phone is no longer a simple voice communication tool, which supports mobile music, mobile games, mobile phone reading, mobile newspaper, mobile TV, mobile wallets and a variety of applications. Mobile payment has also become an important application function to meet mobile phone users’ needs. Meanwhile, the rapid growth of mobile e-commerce transactions is regarded as the fundamental driving force for development of mobile payment, to make mobile payment industry chain mature. This article discusses from mobile payment classification, business model, present situation, existing problems, and proposes some development suggestions.