Behavioural nudges: Barclays introduces spending block app
Here is a behavioural nudge from Barclays that might just be a game-changer in introducing frictions into the spending choices that people make.
The spending-blocker app means that consumers can decide which categories of spending are allowed including online gaming, restaurant meals, premium phone services and Tv and other voting competitions. The app does not allow people to block specific retailers but variants from other banks will surely follow and allow this to happen.
An interesting step into the world of consumers being given the power to control themselves. Barclays customers can now 'switch off' spending https://t.co/FDykEqL8r4
— Colletta Smith (@collettasmith) December 11, 2018
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Geoff Riley
Geoff Riley FRSA has been teaching Economics for thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.
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