1. Introduction Mobile payment is a payment service operated according to financial regulation and executed via a mobile device. Numerous definitions have been introduced by scholars of Mobile Payments, one of the most widespread: "Mobile Payments are payments for goods, services and invoices, invoices made with a mobile device (such as a mobile phone, a smartphone or a Personal Digital Assistant) via exploiting wireless and other communication technologies (such as mobile telecommunications networks or proximity technologies)” (Dahlberg et al., 2008) Turowski and Pousttchi (2004) defined Mobile Payment as an electronic payment transaction procedure where at least the payer pays with mobile communication techniques in combination with mobile devices for payment initiation, authorization or execution. In addition to digital services, payments for physical goods are also possible, both at ticket and ticket vending machines and at managed POS terminals. Typical usage involves the user choosing to make a mobile payment, being connected to a server via the mobile device for authentication and authorization, and then being presented with confirmation of the completed transaction (Turowski, & Pousttchi, 2004). A mobile payment service includes all the technologies offered to the user as well as all the activities performed by the payment service provider to carry out payment transactions. As Figure 1 shows the parts of a mobile payment service. (Dahlberg et al., 2008)Fig (1) Adopted from (Dahlberg et al., 2008)In their 2002 study Au and Kauffman (2008); Lai and Chuah (2010); Innopay (2012) divided stakeholders into two main segments; one comprising mobile payment solution providers and the other…… half of the paper……ie mobile payments: understanding stakeholder issues for an emerging financial technology application”, Science Direct, Electronic Commerce Research and Applications 7, pp. 141-16422. Lai, PM & Chuah, KB (2010), "Developing an Analytical Framework for Mobile Payments Adoption Retailing: A Supply-Side Perspective", 2010 International Conference on Electronic Commerce and E-Commerce Management. -Government, IEEE Computer Society, pp. 356-361.23.Innopay (2012), “Mobile Payments 2012 – My mobile, my wallet?” Innopay, version 1.0, September 2011.Articles24.Kokkola, T., ed. 2010. The payments system. European Central Bank: Frankfurt am Main. http://www.ecb.europa.eu25. MOBILE PAYMENTS GUIDE 2012, Insights into the global mobile financial services market, authors Ionela Barbuta, Sabina Dobrean, Monica Gaza, Mihaela Mihaila, AdrianaScrepnichttp://sv.wikipedia.org/wiki/Wywallet