Different to the traditional context of enterprise technology acceptance, mobile commerce users need to bear the using cost by themselves. Potential users balance benefits and costs of usage prior to deciding whether or not to accept mobile commerce services. In addition, user trust is another important factor affecting their acceptance behavior. From both perspectives of benefit and cost, this paper examines factors influencing user perceived value and trust. 250 valid samples are collected and analyzed with the SEM software of LISREL. The results show that the ubiquitous connections, perceived fee and security risk significantly influence perceived value, while the contextual offering and security risk significantly influence the user trust.