Tesco to launch price comparison site

Supermarket giant Tesco is to move into the online price comparison market this week, with the launch of a website offering a range of finance products and services.

Tescocompare.com is a joint venture between Tesco and the Royal Bank of Scotland. The site is due to launch on Friday, offering financial services from RBS companies like Churchill, but also from other providers.

Tesco will be joining a busy market, with the likes of moneysupermarket.com, which was valued at £1bn for its recent IPO, and Admiral's confused.com already well established.

Price comparison sites have been criticised recently for perceived bias in their listings, so it will be interesting to see if Tesco favours the financial services offered by its partner in the venture.

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