Facebook Is Worth More Than McDonald’s and 4 Other Giant Brands

Facebook Is Worth More Than McDonald’s and 4 Other Giant Brands
19/05/2012 by Zoe Fox on Mashable

Facebook closed its first day of public trading valued at $105.19 billion, making it worth almost exactly as much as PepsiCo, which is valued at $106.5 billion.

At more than $100 billion, Facebook doesn’t quite make it into the leagues of Coca-Cola, worth $167 billion, or Wal-Mart, worth $212 billion. Nor does it yet compete with tech giants Google, worth $196 billion; Microsoft, worth $246 billion; or Apple, worth $496 billion.

However, being the largest Internet IPO in history does get you somewhere. We’ve rounded up five companies you probably perceive to be enormous, which are now worth less than 8-year-old Facebook.

McDonald's

Worth $91 billion

Image courtesy of iStockphoto, shaunl

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Amazon

Worth $96 billion

Image courtesy of iStockphoto, gmutlu

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Disney

Worth $78 billion

Image courtesy of iStockphoto, andrearoad

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Visa

Worth $92 billion

Image courtesy of iStockphoto, cmspic

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Volkswagen

Worth $70 billion

Image courtesy of iStockphoto, shaunl

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What Is an IPO?

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What exactly is an IPO? What are the risks to a company in going public? What are the legal requirements?

If you find the business terms and market lingo confusing, check out our explainer video, which breaks down an IPO in plain language.

Image courtesy of iStockphoto, woraput



Source: Mashable

MasterCard Unveils PayPass Wallet Services, A New Way To Pay

MasterCard Unveils PayPass Wallet Services, A New Way To Pay
08/05/2012 by Emily Price on Mashable

MasterCard announced PayPass Wallet Services Monday, a new global offering that makes it easier and faster for customers to make purchases in stores and online, by allowing those purchases to be made with a single click or tap.

“We think of MasterCard’s mission as using technology to make payments safer, simpler, smarter and this is just one of the ways we’re progressing against that mission” Ed McLaughlin, chief emerging payments office, MasterCard told Mashable.

“We realize that when it comes to payments, no single wallet will rule them all. PayPass Wallet Services simplifies the shopping experience while providing flexibility and choice to merchants, banks and consumers,” says McLaughlin.

PayPass Wallet Services has three components: PayPass Acceptance Network, PayPass Wallet and PayPass API which together are designed to streamline your shopping experience no matter how you shop.

PayPass Acceptance Network: The PayPass acceptance network includes both online and contactless payments, and gives merchants a consistent way to accept electronics payments across multiple channels. NFC payments can be made in-store by tapping your mobile phone, and a new PayPass online element lets you check out at a retailer by clicking a PayPass button — automatically providing your shipping and payment information to a retailer without having to fill that information out each time you pay.

PayPass Wallet: PayPass wallet enables banks, merchants and partners to white label their own wallets. Consumers can store payment and shipping information in one secure place including American Express, Discover, Visa and other branded credit, debit and prepaid cards.

PayPass API: The PayPass API allows partners to connect their own wallets into the PayPass network, and lets those partners user MasterCard’s check-out, fraud detection and authentication services to allow their customers to make purchases wherever PayPass is accepted.

MasterCard will make PayPass Wallet Services available to partners in the third quarter of 2012, initially in the U.S., Canada, U.K. and Australia later including other countries.

MasterCard’s first partners for the project include big names like American Airlines and Barnes & Noble. American will be integrating the PayPass Wallet into its mobile application, and Barnes & Noble will be including the PayPass online checkout button on its website.


“Consumers are at a pivotal point now where smartphone adoption has exploded and well over 50 percent of Americans own one,” says Marc Parish, vice president of retention and loyalty marketing for Barnes & Noble. “The technology that will allow customers to make mobile payments at the point of sale has already begun to make a different, and Barnes & Noble is proud to be leading retail in this technology shift”

Other partners include Jagex, JB Hi-Fi, MLB Advanced Media (MLB.com), Newegg, Runningshoes.com, TigerDirect.com and Wine Enthusiast Companies. MasterCard is also working with financial institutions such as Citibank, Fifth Third Bank, and National Bank of Canada. A number of technology partners are also already on board.

“MasterCard’s PayPass Wallet Services has the potential to streamline the payment process for consumers, whether they’re online or offline.” Mark Hung Research Director, Wireless at Garner told Mashable.

“The open nature of the PayPass Wallet looks promising: besides allowing competitors’ offerings to reside in the wallet (e.g., Visa, Amex, and Discover), the PayPass API allows other digital wallets to connect to MasterCard’s acceptance network as well,” says Hung. “It will be interesting to see when the full product will be launched, as well as the breadth of its partners that will be supporting this new initiative.”

What do you think about MasterCard’s new PayPass Wallet services? Let us know your thoughts in the comments.









Source: Mashable

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Credit card borrowing fades as payday loans rise

Neil Blake, Ernst & Young Item Club: "People are finding there is no alternative to payday loans"

Demand for credit cards is "feeling the strain" as UK borrowers turn to other forms of finance, a report has said.Households paid off some unsecured debts in 2011, but were still left with an average debt of about £7,900, PricewaterhouseCoopers (PwC) said.But credit cards were facing a "mid-life crisis" as people used debit cards, digital payments and payday loans instead.A separate report described the payday loan expansion as "phenomenal".However, there are no official figures that can chart the reported rise in payday loan use.Youngsters' choiceThe number of credit cards in circulation and total credit card borrowing both fell in 2011, the PwC report said.It suggested that UK consumers were turning to other forms of payment, even though the average credit card balance stood at about £1,000.Debit card use had increased by 10% last year, while many people - especially the younger generations - were happy to use digital payments, such as using their mobile phone."The challenge for banks is how to sustain market presence in the face of competition from ambitious giants and other new entrants," the report said.This could include a return to annual fees for credit cards, the PwC suggested.Credit squeezeThe amount of debt being written off by credit card companies fell from its 2010 peak, according to the report.However, the tighter lending criteria introduced by these providers could have pushed some people to other forms of borrowing, such as people who were refused a credit card getting payday loans instead.PwC suggested that, given a choice, some consumers now saw these high-cost, short-term loans as a better option."Mainstream lenders should be alert to the possibility that what may have begun as a relationship of necessity, may endure as consumers are pleasantly surprised at the convenient and innovative service they receive from these smaller, more agile providers," the report said.This was backed up by a forecast by the Ernst & Young Item Club, which predicted that this shift to payday lending would continue - especially to poorer borrowers. It described the rise in payday loans as "phenomenal"."Households that fall outside of the credit terms of traditional lenders are increasingly looking toward other credit providers, regardless of the cost," said Neil Blake, the club's senior economic adviser."With banks expected to further tighten lending conditions, we expect the shift towards alternative lenders to continue unabated."

Source: BBC