Contactless payment systems on the way
From next year supermarkets customers in the UK will be able to pay for their goods via a contactless payment system with the Co-op the latest major UK supermarket to sign up to the program. These cards, which are issued by Barclaycard and Visa, simply allow customers to pass their card across a sensor which will take their details and automatically deduct money from their accounts. No PIN numbers will be required for sales under £15 although sales in excess of this figure will need to go through the "normal channels".
It will be interesting to see how the public react to these contactless payment systems because ultimately, as with the Oyster card on the London Underground, they are commonplace in other areas of the UK economy. It will also be interesting to see whether the growing number of supermarkets currently looking to sign up to the system will push other retailers towards this efficient and relatively cheap, at least for retailers, payment system.
We have seen the introduction of various contactless payment systems in the past although many of these have fallen by the wayside due to a lack of public confidence. Whether this particular move, backed by Barclaycard and Visa, is different remains to be seen.
Spending warning issued by Fool.co.uk
One in eight people are spending more than they earn, Fool.co.uk warned today.A new report from the financial website also showed that one in seven had no money left over at the end of the month, while seven in ten had less than 20 per cent of their income remaining, once all expenses were met.Fool.co.uk's figures come on the same day that the government announced a fall in GDP of 0.5 per cent for...Read More
Cut more energy bills, regulator says
Britain's gas and electricity providers should continue to cut unnecessary costs from customer bills, Ofgem said today.The regulator made the comments in the initial findings of its billing practices investigation - which revealed that some householders were paying too much for their energy through no fault of their own.For example, some who get their fuel through prepayment meters are paying more...Read More
Christmas gifts stuck in the winter weather
Over the last couple of days, as the weather in the UK begins to turn, it is becoming more and more apparent that many Christmas gifts, parcels and food deliveries are being held up by the UK climate. Subzero temperatures around the UK, reaching -16°C in the north of Scotland yesterday, have not only impacted upon the postal service's ability to deliver goods but also delivery of items to superma...Read More
Is Wind Power Just A Fad?
News that Danish Group Vestas is looking to close down its wind turbine factory in Scotland has brought the subject of wind power back into the public domain. The Scottish government have been very vocal in their support of the wind power industry but this blow together with news that the UK government will not give wind turbine owners reduced rates for using the National Grid has knocked them fo...Read More
Is bankruptcy really as bad as people say?
While the words bankruptcy, trust deeds and insolvency will strike fear into many UK consumers, is bankruptcy really as bad as people say?
It is easy to forget sometimes that bankruptcy regulations and bankruptcy laws are there to protect those in financial trouble. They are not there to make it easy to write off your debts, reduce your liabilities and walk away but they are there f...