This paper derives a theoretical framework for consideration of both the technologically
driven dimensions of mobile payment solutions, and the associated value proposition for customers.
Banks promote traditional payment instruments whose value proposition is the management of risk for
both consumers and merchants. These instruments are centralised, costly and lack decision support
functionality. The ubiquity of the mobile phone has provided a decentralised platform for managing
payment processes in a new way, but the value proposition for customers has yet to be elaborated
clearly. This inertia has stalled the design of sustainable revenue models for a mobile payments
ecosystem. Merchants and consumers in the meantime are being seduced by the convenience of online
and mobile payment solutions. Adopting the purchase and payment process as the unit of
analysis, the current mobile payment landscape is reviewed with respect to the creation and
consumption of customer value. From this analysis, a framework is derived juxtaposing customer
value, related to what is being paid for, with payment integration, related to how payments are being
made. The framework provides a theoretical and practical basis for considering the contribution of
mobile technologies to the payments industry
