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.
Centrica eyes a slice of the British Energy pie
As the UK government set upon the road to merge EDF and British Energy, Centrica soon realised that no matter how much firepower it could muster it would not be able to takeover British Energy. Now that the EDF deal is all but done it seems as though Centrica will be asked to come on board and take a 25% in the new look British Energy. The small sum of £3.1 billion will seemingly secure a part o...Read More
What Is The RPI And Why Is It So Important
The RPI (otherwise known as the Retail Price Index) is a measurement which is used to track the changing cost of living and inflation. It is calculated using a basket of general goods which everyday families would purchase on a regular basis and the changes are shown as percentage movements on a monthly and annual basis.
The RPI figure is usually compared to the corresponding perio...
Is International Power on the shopping list of GDF Suez
French utility giant GDF Suez is said to be in talks with leading UK power provider International Power in what could turn out to be a very difficult situation for the UK government. While no formal bid has been forthcoming as yet it is believed that the French authorities, who hold a 35% stake in the giant French utility company, have given the go-ahead for a bid for International Power. But how...Read More
Using a debit card to save money
As with direct debits, mentioned in our earlier post, which you can use to pay your monthly bills and save on excess spending, the same is true of debit cards. How many times have you been shopping and taken out over and beyond the amount of money which you require only to see the excess disappear on items which you maybe do not require?
The trick to saving money and reducing your m...
Can the Conservative party afford to reorganise the benefit system?
There is no doubt that the UK benefit system is one of the most lucrative in the world but there is also no doubt that the system has been somewhat out of control for the last few years. However, Iain Duncan Smith has now been put in charge of reorganising the UK benefit system but many are concerned whether the Conservative Party has the bottle and whether it can actually afford to push through t...Read More