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.
UK broadband tax could impact on customer numbers
Charles Dunston, the chief executive of TalkTalk, has today spoken out against the UK government's proposed broadband tax which could in total cost each and every UK home around £42 a year. The tax would bring in around £1 billion for the UK government but could, according to Charles Dunston, see 100,000 poorer families unable to cover the cost and effectively disconnect from the Internet.
Roll Up Roll Up For Gordon's Next Giveaway
It seems that Gordon Brown's plan to give more that 7 million families in the UK a £150 one-off winter payment to assist with the rising cost of living has been released into the public domain ahead of time. If the stories are correct it looks as though families who receive child benefit will be in line for the early Christmas present. But will this be enough to turn the tide?
Scottish car sales respond to scrappage scheme
The Society of Motor Manufacturers has reported a 6.5% increase in new car registrations in Scotland during June. This is the first such rise for over 13 months and has been well received by the industry as a whole which has been going through a very difficult period. However, interestingly comparable figures for the rest of the UK showed a 17.6% reduction in new car registrations which has cast s...Read More
Tesco agrees to pay milk farmers more money
In a surprise move it has been revealed that Tesco will increase the amount of money paid to farmers in the UK regarding the supply of milk by 1.28 pence to 28.18 pence per litre. However, the new rate, which is well above the market average of 25.77 pence per litre, will only be available to companies who are part of a Tesco Sustainable Dairy Group. So what will this mean for UK consumers? Con...Read More
Are we really on the verge of credit crunch part two?
The Bank of England has most certainly set the alarm bells ringing in the UK with a suggestion that we may well be on the verge of credit crunch part two. The Bank is warning of reduced liquidity in the mortgage market and reduced liquidity in the loan market which could choke the UK economic revival even before the public-sector budget cuts kick in. So are we really on the verge of credit crunch...Read More