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.
MPs call for benefit sanctions review
25/03/2015 A group of MPs have claimed that benefit sanctions are unfair to benefit claimants, and have called for an independent enquiry into the way sanctions are applied. This will be the second time that the Work and Pensions Committee has called for an independent enquiry. They believe the sanctions often lead to food poverty and severe financial hardship. The MPs want the report to s...Read More
UK gas supply back in the headlines
Despite the fact that UK gas supplies have been in the headlines for some days it looks as though this week will see the barrage of criticism targeted at the UK government continue. Many people are now looking to the future with regards to UK gas supplies, with only eight days backup storage available in the UK, and many are highlighting the fact that government has given the go-ahead for a large...Read More
Pause for thought to save cash!
No matter how careful we are with our cash they will be occasions when we are out shopping and we may see something which we think we need but may cost a significant amount of money. So-called "impulse purchases" are often very well positioned in the stores we visit and catch our attention almost immediately. If you find yourself in a situation where you are looking to purchase something which you...Read More
How can the government charge 27% interest rates?
The government white paper on the crisis loan fund is dominated by the suggestion that interest will be charged on loans at a rate approaching 30%. Let us not forget these loans are for families around the UK who literally have nothing and need to borrow money off the government, which the currently pay back and 0% interest, to cover such bills as gas and electric. The government has attempted to...Read More
Now is the time to plan your financial future
As the UK economy continues to flounder possibly the last thing on your mind will be financial planning for the future. However, with interest rates lower than ever before and banking finance very scarce on the ground maybe now is the time to review your financial affairs and get them in order for the future. It is quite literally time to batten down the hatches and arrange your finances for what...Read More