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.
Energy firms facing more criticism
Energy companies, which are currently fending off accusations of colluding to fix prices, have come in for fresh criticism for their pricing polices. Recently, British Gas, npower, EDF and Scottish Power all confirmed double-digit price increases, which has prompted outcry from consumers. Now Help the Aged and Age Concern have joined the chorus of disapproval for the firms as a result of their pra...Read More
Christmas belts start to tighten
Leading economists Deloitte have issued a report which suggests that on average the Scottish consumer will spend around £709 this Christmas which is a 16% fall from last year. The survey suggests that already there are serious signs that the Scottish consumer is looking to reduce retail spending and maintain their standard of living where possible.
Christmas is the major part of th...
How Much Is Your 4x4 Worth Today?
Due to a mixture of rising fuel costs, falling second hand car prices and the forthcoming change in the government's road tax regime, many car dealers are refusing to take even the newest 4x4 vehicles as part exchange for another vehicle. It seems that while demand for second hand cars in general has fallen, the demand for 4x4 off road petrol vehicles has fallen off the graph!
Millionaire divorcee goes to court to claim back settlement money
City fund manager Bryan Meyerson has returned to the courts in an attempt to reclaim £9.5 million from an earlier divorce settlement with his wife. He claims that a 90% fall in the value of shares held by the couple would leave his ex-wife with over 100% of the couple's assets using the current value. In February of last year Mr Myerson's wife was awarded 43% of the couple's £25.8 million fortun...Read More
New rules for price comparison websites
22/01/2015 Energy price comparison websites will now have to adhere to new rules announced by the energy regulator Ofgem, which will force them to become more transparent. Some price comparison websites have received criticism for not showing consumers the cheapest tariffs and not letting them know what deals they could earn commission on. New regulations imposed mean websites that are memb...Read More