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.
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
Smart meters to be introduced across the UK
In a move which could potentially save UK energy companies around £3 billion a year it has been revealed that the UK government is looking at introducing smart energy meters into houses across the UK. However the cost of introducing these meters could be anything up to £8 billion and could take up to a decade to complete with over 26 million homes under consideration. So who will benefit the mos...Read More
Brits waking up to benefits of switching
New data from the energy watchdog suggests that more and more Britons are realising the benefits of switching energy provider. According to figures from Ofgem, the number of consumers transferring from their existing provider in search of a cheaper deal hit a five-year high of 5.1 million last year. The findings were welcomed by Alistair Buchanan, chief executive of Ofgem, who claimed that they we...Read More
Would you dare haggle over the price of a new car?
Many people believe that the UK car industry will come down from the current high in 2010 and will effectively be open to haggling by consumers. The car scrappage scheme has given the sector a massive boost during 2009 but this has now ended and the sector is trying to make up for the impact which the scrappage scheme has had on new car sales. So would you dare haggle over the price of a new car?...Read More
UK drivers hit by cost of parking
The cost of car-parking for UK drivers has rocketed in the past six years, according to Direct Line car insurance.Research by the firm shows that the average cost of car-parking has risen by an average of 25 per cent across the country, with motorists in Berkhamsted in Hertfordshire, Ponteland in Northumberland and St Mary's Bay in Kent facing increases of 90 per cent in charges since 2000.Perhaps...Read More