According to analysis on the adoption problem of the third-party mobile payment, this paper put forward a third-party mobile payment adoption model based on value acceptance model. To test the capability of the proposed model in interpreting affecting factors of users in adoption of third-party mobile payment service, structural equation model method is used and the data is obtained from questionnaire investigation. The results shows that except for perceived cost and perceived risk, which are widely recognized as two remarkable affecting factors, perceived benefit, perceived convenience and herd mentality convenience are also three outstanding factors that influence the use of the third-party mobile payment. According to this conclusion, suggestions for improvement of service are put forward to the third-party mobile payment business operators.