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IT is a major driver of business model innovation and servitization. Representations of business models are widely used tools for analyzing instances of these developments as well as for the ideation of novel services and service business models. However, current representations of business models fail to capture essential aspects of service, such as co-creation. In response to these shortcomings, the paper presents a representation for service business models. The utility and efficacy of this alternative business model representation is demonstrated with a case study of a proximity m-payment service in the German retail industry. We apply and compare the Business Model Canvas as well as the Service Business Model Canvas. Based on this application, we present an evaluation by an informed argument of the representation.