In China，mobile payment thrived in the year 2013. Market competition is getting fierce and industrial convergence is evidence，which not only changes traditional industry operation mode，but also changes our work and life. The chapter discusses this issue through three parts. First，it overviews the rapid growth of mobile payment’s scale by introducing finance institution，mobile telecom carrier and three industrial operating models and present situation of payment security which are leaded by third-party payment companies，then the chapter summarizes the common type and precautionary measure of mobile payment fraud. Secondly，it focuses on the rapid spread of NFC according to mobile payment’s business innovation and technology development，analyzes the suffocated problem of two-dimensional code business and sketches out some kinds of advanced mobile payment’s technological innovation，including acoustic payment，Kungfu，venous payment. In the end，the chapter summarizes the main characteristics and tendency of mobile payment development in the present stage of China and then estimates its significant meaning to individuals’ economic life，all of which are based on the comparison in the development of mobile payment between domestic and overseas.