This is kind of a strange thing to see happen, but basically you can save anywhere between 5% all the way up to 33% on the marketplace when purchasing items. This is useful for people that use CS:GO or even DotA 2 items, or want to purchase keys and whatnot off the steam market. I only saw this as I was about to sell my P90 Assimov worth about $23 (ramble-ramble).
Other than that, the requirements are that you DOWNLOAD and install Steam Mobile Authentication, only available on iOS and Android at the moment. The link to the official download page can be found here:
http://store.steampowered.com/mobile
Once you set it up and whatnot, you can save from 5% to 33% on the marketplace all the way up to December 17. Best to do it early and now if you plan to purchase things.
Note: It does NOT affect the seller in terms of their list price. Steam covers the cost (which they should).
It's really only save 5%. The only way it's more than 5% is if 1 cent is more than 5% of the total (ie if it was $0.03 it is now $0.02 which is the 33%).