
Uber announces major shake up to the way customers can pay for rides
The app-based firm said it wanted to make transport more accessible for its passengers as it announced an 18-month trial in several cities would be extended across Britain, apart from in London.
Uber's pilot scheme in Birmingham, Leicester, Nottingham and Stoke found that some customers had preferred to use cash when it came to paying for their rides.
The cash option will now show on the app, but drivers can opt out of accepting notes and coins if they can't provide change or if they fear for their safety by carrying money.
If drivers are unable to provide any change then Uber will credit the customer's account on the app.
The option of paying by cash is still under review by local authorities in the capital and can't be used for Uber Eats or any other form of transport on the app.
The move has been heralded by campaigners as Uber now 'believing in the future of cash in the UK' and comes on the back of the Treasury Committee finding that a growing number of retailers and services are rejecting cash payments.
The cross-party committee warned the country could become a 'two-tier society' unless the problem was tackled where vulnerable groups become excluded from community spaces.
A spokesman for Uber said: 'We believe that movement should be accessible to everyone, so following successful pilots in some UK cities over the last 18 months, we have decided to give passengers outside of London the option to pay for trips with cash.'
Ron Delnevo, chair of the Payment Choice Alliance, told the BBC that Uber's decision 'demonstrates that they now believe in the future of cash in the UK' and called on government to go one step by further by making it a law for shops and services to accept cash.
The Treasury Select Committee last week urged the public to hoard cash for cyberattacks and blackouts.
The Treasury Select Committee mooted the drastic advice as it warned over the growing shift away from coins and banknotes.
The MPs said businesses might have to be forced to accept hard currency to stop the UK sleepwalking to becoming a cashless society.
One in two shoppers have recently been somewhere that did not accept, or discouraged the use of, cash, according to research from ATM network Link published last year.
Around a fifth experienced this in a cafe, restaurant or when paying for parking, and one in ten on public transport or in a pub.
Charities also told the Committee that local government funded services, such as leisure centres, are increasingly cashless.
Vulnerable groups who rely on cash, including elderly people, those with learning disabilities and domestic abuse victims, told the Committee that they are forced to pay more for essential goods and services because the number of places where they can spend cash is reduced.
The Committee suggested the Government could recommend that households hold cash in case of a national emergency.
'In discharging its responsibility for national security and resilience, HM Treasury must consider the value of physical cash in emergency preparedness,' the report said.
'This may include recommending that cash is held by individuals in case of emergency, and considering what role cash distribution might play in a severe payment systems outage.'

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Reuters
2 days ago
- Reuters
Ghana central bank notes economic recovery but takes no action at emergency MPC
ACCRA, July 18 (Reuters) - Ghana's central bank said on Friday that an emergency meeting of its Monetary Policy Committee on Thursday had considered whether to take immediate action but held off until a regular meeting later this month. The bank noted in a statement that a broad range of macroeconomic indicators had improved as the West African country emerges from its most severe economic crisis in decades. "Inflation expectations are broadly anchored, external buffers have strengthened, and confidence in the economy is returning," the bank's statement said. "The Committee reaffirmed its commitment to support the recovery process without compromising the gains achieved so far." The regular MPC meeting will take place from July 28 to 30, with a policy decision announced at its conclusion. Ghana's economic growth accelerated in the first quarter and inflation (GHCPIY=ECI), opens new tab dropped to its lowest level since December 2021 in June. The bank's statement noted the disinflation, the first-quarter growth rate, a good performance by the external sector, rising international reserves and a stronger local currency. The cedi is up more than 40% against the dollar so far this year. The central bank also said the global economic environment remained uncertain, with weakening global growth momentum and tight financing conditions.


Times
2 days ago
- Times
Why the surprise inflation rise is bad news for your mortgage
Cuts to mortgage rates over the past few weeks could be reversed after a higher-than-expected rise in inflation, experts have suggested. The rate of consumer price inflation was 3.6 per cent for the year to June, a surprise increase from 3.4 per cent for the year to May. Many economists had expected it to remain unchanged. The rise, which was mostly driven by an increase in petrol prices, takes inflation further away from the Bank of England's 2 per cent target. The Bank expects it to eventually fall to 2 per cent by 2027. The figures have cast doubts over how much further and how quickly the Bank will cut its base rate of interest, which is now 4.25 per cent having been cut four times since it hit a 15-year high of 5.25 per cent in August 2023. The Bank had been expected to cut the base rate by 0.25 percentage points when its monetary policy committee meets next month, but this may now not play out as predicted. This matters for mortgage holders because fixed rates are priced based on swap rates — the interest rates at which banks lend to each other, which are based on market expectations of future Bank rates. Dan Coatsworth from the investment platform AJ Bell said markets have put the chance of a rate cut in August at about 82 per cent. 'But there is a lot less confidence in future cuts. The latest inflation figures might encourage the Bank to sit on its hands and wait for more data to see if the spike in the cost of living is only temporary,' he said. Fixed mortgage rates had been falling over the past few weeks, which has been good news for buyers as well as the hundreds of thousands of homeowners whose deals are due to end this year. The lowest two-year fixed rate has fallen from 3.98 per cent on June 15 to 3.79 per cent today for someone buying a home. The deal, from Santander, has a £999 fee and is available at up to 60 per cent loan-to-value (LTV). The lowest rate for someone remortgaging is 3.83 per cent from HSBC with the same fee and maximum LTV. David Hollingworth from the mortgage broker L&C said: 'Mortgage rates have been reflecting the market's confidence in more cuts to come. Lenders have been locked in an attritional rate battle that has seen frequent, albeit small, reductions to fixed rates.' The lowest five-year fixed rate has fallen from 3.99 per cent in June to 3.86 per cent from HSBC, available with a £999 fee for someone remortgaging at up to 60 per cent LTV. Hollingworth said: 'Today's news could take a bit of momentum out of those reductions, although it may not be enough to spark a significant reversal.' • Mortgage rule changes could help 16,000 first-time buyers a year Higher inflation is usually bad for savers because it eats into the real value of their returns. However, there is a silver lining because it usually keeps interest rates higher, meaning that they can lock into a better deal. Now that the market doesn't expect rates to fall as quickly, the top-paying accounts may stick around for a little longer. although you will still need to move fast because the best deals are often from smaller banks that fill their cash quotas quickly. The highest one-year fixed savings rate is 4.58 per cent from GB Bank, while the top two-year rate is 4.44 per cent from DF Capital, which also has the highest five-year rate of 4.47 per cent. All three accounts require a minimum deposit of £1,000. The best interest rate on an easy-access accounts, where rates can usually be cut at short notice, is 5 per cent for a year from JP Morgan's digital bank Chase. It's a variable rate with a 2.25 percentage point bonus for the first 12 months, and you need to have a current account with the bank. Atom, another app-based bank, pays 4.75 per cent variable if you do not make a withdrawal — if you do, the rate drops to 2.5 per cent. Caitlyn Eastell from the data company Moneyfacts said: 'People should act quickly to avoid inflation eroding their hard-earned wealth by moving their money to the most competitive accounts. Savers earning less than the level of inflation should shop around for better returns immediately.'


Daily Record
2 days ago
- Daily Record
Panasonic dishes out £100 takeaway vouchers and 15% off 'first class' OLED TVs
Panasonic customers can save hundreds on a new OLED smart TV this month and bag a £100 voucher for Uber Eats, Just Eat and Deliveroo. Panasonic is knocking hundreds off smart TVs and giving away free takeaway vouchers in an enticing dinner and a movie deal. For a limited time, shoppers can get 15% off select OLED smart TVs and £100 takeaway vouchers for Uber Eats, Just Eat and Deliveroo. Customers can opt for £100 supermarket vouchers if they prefer, to be used at Sainsbury's, Marks and Spencer, Waitrose or Tesco. To get the deal, shoppers need to add an eligible Panasonic OLED TV to their basket and enter the coupon code Z6015. However, the deal isn't around for long and is due to end at 11.59pm on July 31. It's available with two OLED models, including the 55' Z60 4K OLED Ultra HD TV. This model has already been reduced from £1,199.99 to £799, but shoppers can snap it up for £679.99 with the coupon code Z6015 – a total saving of £520. Those seeking a larger model can opt for the 65' Z60 4K OLED Ultra HD TV, which drops from the already reduced £999.99 to £849.99 with the same code – a £650 drop from the original £1,499.99 price tag. The Panasonic Z60 range is said to deliver deep blacks, vibrant colours and stunning contrast thanks to its 4K OLED panel. It also boasts Dolby Vision and 4K Colour Engine Pro, a processing chip that enables the TV to produce natural colours while enhancing brightness and dynamic contrast whether watching the latest blockbuster or gaming. With Dolby Atmos surround sound built in, audio appears to be coming from all around in an immersive soundscape that follows the action on screen. As well as easy access to major streamers like Netflix and Disney+, the Z60 includes Freely, the streaming app developed by BBC, ITV, Channel 4, and Channel 5. This offers access to live TV and on-demand content over Wi-Fi without subscription fees or additional hardware. Other standout features include Game Mode Plus, which ensures 'lightning-fast' response times and minimal input lag, as well as the TVs frameless design. The Panasonic deal rivals Samsung's summer sale, which offers up 15% off its own OLED range with the code TV, such as the 2025 48' OLED S93F 4K Vision AI Smart TV (£1,169.10). Those looking to spread the cost may want to consider the new Sky Glass Air, Sky's own 4K UHD smart TV priced from £6 across a period of time. The only catch is this model must be taken alongside a Sky TV and Netflix bundle, starting at £15. But the Panasonic Z60 has won over shoppers, who have awarded it an average 4.6-star rating. One happy customer said: 'First class. Picture quality is unbelievable.' Another said: 'Exceeds expectations. Excellent picture quality and sound.' A more mixed review was impressed with the TV but criticised Panasonic's support, saying: 'Nice sound and picture. However, the user manual lacks any useful detail especially on the inputs and outputs. I even tried support but they didn't have a clue.' While another five-star review said: 'Amazing OLED TV. Excellent picture quality and operating system. Easy to connect to WiFi and download streaming apps. It can even function as a games console, easily pairing a Bluetooth game remote to play games without the need of a separate console. Casting from your phone or other device is very easy, running either android or iOS.'