What is Mobile Payment? -Clickipedia

What Mobile Payment is: A way for consumers to pay for your product or service when using their mobile device

What Mobile Payment looks like: Mobile payment can be achieved through a variety of techniques. Some include SMS (users send a text message to a predetermined number to request a purchase), direct billing through your mobile site (no credit card information is required—payments are placed on the consumer’s mobile bill) or Near Field Communications (in-person purchases can be made when a mobile device is equipped with a smart card and a user waves their phone in front of a reader device, much like a credit card).

Why Mobile Payment matters: Consumers are increasingly making more purchases via mobile device. By considering your options and optimizing your mobile checkout to accommodate this trend, you can reduce friction along your purchase path.