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.
Gas traders push UK prices higher
The ongoing Ukraine Russian issue with regards to the exportation of gas to the European market has moved ahead this evening with traders pushing up the price of UK gas as a means of filling the growing shortage across Europe. This will mean that UK energy providers will need to pay more for their gas in the wholesale market and effectively kill stone dead any chance of reductions in UK gas bills...Read More
Dodgy builders cost homeowners millions
As many as one in ten homeowners are left to foot bills of over £1,000 for damage caused by builders, according to recent research.The study conducted by Abbey Home Insurance showed that as many as one in five people have had their homes damaged by builders, with the average cost of repairs being £224.Prasad Shastri, Abbey's head of insurance marketing said: "The potential damage that could be c...Read More
Severn Trent Is In Touch With Its Customers
Water company Severn Trent has finally shown that there is at least one company in touch with its customers after suggesting that more and more customers will struggle to pay their bills as the price of water rises and the economy slows down. In a trading update the group commented upon the fact that bad debts look ready to rise over the next 12 months as more of the UK population are pushed onto...Read More
Do UK banks dictate your finances?
In years gone by there was major competition on the UK high street with regards to financial services and banking facilities although today the UK sector is dominated by a relatively small band of companies. As a consequence, there is a growing belief that consumers in the UK have lost part of their power to make changes in the UK financial sector and indeed UK banks are actually dictating the fin...Read More
Energy firms inject competition into the market
The last few weeks have seen the likes of British Gas and Scottish & Southern reduce their energy rates for the UK consumer. While many have still criticised the size of these reductions, compared to the massive increase we saw last year, they have been well received in the main by struggling households. However, thankfully it appears that competition is set to return to the sector with more and m...Read More