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.
Shoppers Desert The High Street For The Online Experience
Just when many retailers thought it could not get much worse it has been confirmed that 17p in every £1 spent in the UK retail market is now being spent online and this figure is only set to rise. An IMRG-Capgemini sales report has estimated that some £26.5 billion was spent on line in the first 6 months of this year, a rise of 38% on the same period in 2007.
UK petrol price hits five-month high
In a rather bizarre scenario we have seen UK petrol prices increasing towards the one pound level despite the fact that oil prices across the world have remained fairly steady for some time. There are a number of factors which appear to have come into play which include the recent two pence a litre tax increase by the UK government and the fact that some oil companies around the world are refusing...Read More
Petrol could rise to over a pound a litre
Petrol prices could soon rocket to more than £1 a litre, as the government's two pence rise in fuel duty comes into force today.Analysts are warning motorists that the average price of unleaded petrol could rise to about 98p, while diesel could reach as much as £1 a litre.This pattern looks set to continue, with a further two pence fuel duty rise planned for April, in what the government claims...Read More
British Gas finally reduces electricity prices
While British Gas will today grab the headlines with a 10% reduction in electricity prices it must be noted that the company has lagged the likes of NPower, EDF Energy, EON, Scottish Power and Scottish and Southern Energy by a few months. However, the move will be well received by the 4.5 million British Gas electricity customers who will now save around £132 a year if they are part of the compan...Read More
Rein in your spending, warns investment group
Earnings are growing at the lowest rate for ten years and but household expenses are going up, according to a new study.The report by the Alliance Trust Research Centre warns that people are refusing to pay attention to financial facts and spending more than ever, out of sync with their salaries.Shona Dobbie, head of the Alliance Trust Research Centre, said: "Far from never having it so good, we'v...Read More