Responding to the debate, Local Government and Communities Minister Carl Sargeant highlighted the role credit unions can play as an alternative to pay day and other instant loan companies.

BBC: Debate on payday loan companies

An instant background check is not too high a price to pay, when we know the current system -- even with big loopholes -- has saved many lives.

CNN: Americans, even NRA members, want gun reforms

Sainsbury and Tesco both pay 6.5% on small balances in instant-access savings accounts.

ECONOMIST: Supermarket banking

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FORBES: Coke Has Limited Fizz To $60 With Slipping Soda Sales

LOVEFiLM members will have instant, exclusive on-demand access to what is known as the second pay television window of Twentieth Century Fox film content.

ENGADGET: Lovefilm, Fox UK deal brings more TV shows next month, movie exclusives in 2013

It also fosters new ways of using the telephone: to send short messages (a billion a month in Europe), to pay for a Coke, to make a bet, to receive instant recommendations on where to park or to eat.

ECONOMIST: Walking on air