The development of modern internet technology made people feel the biggest change is the on- line shopping& trading, E- commerce. E- commerce led the rise of mobile commerce, also created a generation of the digital wallet revolution. Although these brought people convenience and diversification, we suspect the progress of the internet technology bring not only the convenient, but also exposure to other risks. Therefore, this study "Risk factors of Mobile payment by the third party" hope to provide an example to discuss the risks associated with it, in order to facilitate effective risk management mechanism to prevent and reduce the risk posed by technology. Look forward to proving a convenient and secured on-line trading environment.