Thursday, August 23, 2012

Access to information about daily transactions

British authorities have mechanisms in place to provide users with access to information about daily transactions

The new project includes the transfer of businesses to store data in machine-readable format to facilitate consumers' access to information.

According to a government project Midata, all British companies providing public services, web-shops and companies have until September 10 of this year, go to the storage of data in machine-readable format. This will help each user to access the information on completed transactions it and get a detailed report about the purchase. The new rules, which are set out in the bill of entrepreneurship and reform in the regulation (the Enterprise and Regulatory Reform Bill), may become the norm of the law next year.

The Minister for Consumer Protection UK Norman Lamb noted that users should have access to information on transactions made by them. "I think that enable consumers to control their transaction will provide great opportunities, both by consumers and by the British firm" - quoted policy BBC News.

"The project Midata will allow each consumer more deeply comprehend their daily consumption and lifestyle by analysis of purchases, thus enabling them to make better choices and control costs - said Lamb. - In addition, these innovations will support healthy competition among firms, and stimulate the introduction of new technologies for processing and storage of user data."

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