When internet transits to mobile network, mobile payment has developed rapidly and become a major competition amongst the internet companies. ANBOUND research team thinks that the development of mobile payment cannot rely solely on marketing, the real competition lies on its ecological system construction. Currently, the two leading companies namely Alibaba and Tencent are competing on mobile payment thus the new comers will have difficultly to gain substantial market share. The development of mobile payment will affect more industries including third-party payment, banking and China UnionPay.