24 January 2017
visit http://www.wolterskluwerfs.com

Oyster could be replaced by mobile phones or bank cards - TfL

22 October 2008  |  13696 views  |  0 oyster card

London's pre-paid contactless Oyster travel card could be dumped by 2010 in favour of a system that uses mobile phones or bank cards, says Transport for London (TfL).

TfL told the London Assembly today it is looking at various technologies and providers to take over from the current Oyster system - run by consortium Transys - in 2010.

Will Judge, head, future ticketing, TfL, told the assembly's budget and performance committee the system could be delivered on a smartcard - like Oyster - or on a phone or bank card. The new system could also have a different name, meaning the death of the Oyster brand, says Judge.

TfL also revealed that Oyster is expected to be available on London riverboat services next year, with other parts of the capital's transport system to follow.

Transys is having its contract terminated early in a bid to save millions of pounds. The system has come under scrutiny recently, with outages and the publication of a research paper outlining security flaws found in the Mifare chips used in the cards.

TfL says it will ditch the current private finance initiative (PFI) model in favour of a contract divided into modules with each bit let individually.

Earlier this year TfL partnered handset manufacturer Nokia, phone network O2, Visa and TranSys on a pilot to enable customers to pay for tube journeys using mobile handsets.

The pilot was hailed a success, with nine out of ten participants saying they were happy using NFC technology on a mobile phone and 78% said they would be interested in using contactless services if available.

Barclaycard currently has an exclusive deal with Transys to provide Oyster functionality as part of its OnePulse contactless debit card. That contract too will expire in 2010.

Earlier this week MasterCard and the Royal Bank of Scotland revealed plans to trial a combined contactless bank and transit card in Liverpool. Unlike London's Oyster, the card does not need to be topped up because funds are automatically debited from the debit or credit card.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

MasterCard and RBS to pilot contactless transit payments in Liverpool

MasterCard and RBS to pilot contactless transit payments in Liverpool

21 October 2008  |  14694 views  |  0 comments
Oyster card hack research published

Oyster card hack research published

07 October 2008  |  10494 views  |  0 comments
Security fears raised over London Oyster card

Security fears raised over London Oyster card

23 June 2008  |  17187 views  |  0 comments
UK transport authority to pilot contactless payments

UK transport authority to pilot contactless payments

29 February 2008  |  14948 views  |  0 comments
Barclaycard to launch public mobile payments trial

Barclaycard to launch public mobile payments trial

28 November 2007  |  15772 views  |  0 comments
Transport for London to trial mobile Oyster scheme

Transport for London to trial mobile Oyster scheme

27 November 2007  |  10204 views  |  0 comments
Barclaycard rolls out Oyster payments card

Barclaycard rolls out Oyster payments card

10 September 2007  |  16147 views  |  0 comments
Transport for London issues 10 millionth Oyster card

Transport for London issues 10 millionth Oyster card

12 January 2007  |  13978 views  |  0 comments
Visit contisgroup.comvisit wavestone.co.ukVisit capgemini.com

Top topics

Most viewed Most shared
US fintech firms join forces to push data sharing via APIsUS fintech firms join forces to push data...
10544 views comments | 62 tweets | 53 linkedin
HSBC forms tech advisory boardHSBC forms tech advisory board
7081 views comments | 22 tweets | 23 linkedin
hands typing furiouslyBlockchain: Securities market infrastructu...
6280 views 0 | 3 tweets | 3 linkedin
New York regulator blasts OCC over bank charter plan for fintech firmsNew York regulator blasts OCC over bank ch...
6251 views comments | 21 tweets | 15 linkedin
EU watchdog tells FS firms to focus on blockchain security risksEU watchdog tells FS firms to focus on blo...
6061 views comments | 15 tweets | 25 linkedin

Featured job

Competitive base, 30% bonus, benefits
Charlotte, NC (USA)

Find your next job