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 government under pressure over petrol prices
As we approach the next general election the UK government is today concerned about growing unrest within the UK motoring community. The price of a litre of petrol is now around £1.20 and there are concerns that we could see the price increase to £1.50 in the short-term. A number of motoring organisations are reporting significant unrest amongst the members and many MPs have been on the end of v...Read More
UK gas reserves down to just six hours
Extreme cold weather in Norway caused the closure of a Norwegian gas supply processing centre which has impacted on the UK. Yet another National Grid gas alert has been issued and this time the UK government is appealing in desperation for extra gas to be pumped into the UK system from overseas. There is now a real danger that the supply of gas to the UK could be crippled in the days ahead unless...Read More
Report finds many cars not as fuel efficient as claimed
28/09/2015 Motorists are being tricked into buying cars that claim to be more fuel efficient than they really are, according to lobby group Transport & Environment. A new report claims that European car markets are not testing their products properly on fuel performance and C02 emissions. Research found a 40% gap in the amount of petrol and Co2 released in the lab tests than in real life. Th...Read More
Providers plot water price rises
Water prices are to increase above inflation, suppliers indicated today.New income and expenditure proposals from United Utilities, Northumbrian Water, Welsh Water and Thames Water have been received by the watchdog Ofwat for approval, the BBC reports.Thames is proposing three per cent above inflation price rises over the next five years, while Northumbrian and United Utilities are plotting bill h...Read More
UK inflation nearly twice the average European rate
A report by the Organisation for Economic Co-Operation and Development has today highlighted the problems which the next UK government will face with UK inflation nearly twice the average rate in Europe. This means that the cost of living in the UK is rising twice as fast as anywhere else in Europe at a time when the UK government is drowning in a sea of debt and public sector investment is set to...Read More