28 July 2016
Find out more

TfL pays £1m for Oyster brand

13 April 2010  |  9685 views  |  0 oyster card

Transport for London (TfL) has paid £1 million to buy the Oyster brand from the Transys consortium ahead of a renewed push to incorporate the contactless e-ticketing technology in mobile phones and bank cards.

The Transys consortium has been running Oyster via a 17-year public finance initiative (PFI) contract since 1998. However, in August TfL decided to ditch the deal this year by exercising a break option, selecting Cubic and EDS to manage and develop the system from 2010 to 2013.

It has now paid out £1 million to buy the Oyster brand, enabling it to "investigate the future potential for Oyster to be extended to new and existing technologies and the commercial opportunities that provides".

TfL has already worked with firms including Nokia, Barclaycard and O2 on mobile and debit card Oyster trials. The 2008 mobile pilot was hailed a huge success, with nine out of ten participants saying they were happy using NFC technology on a mobile phone and 78% interested in using contactless services if available.

Kulveer Ranger, the Mayor of London's transport advisor, says: "Oyster has the potential to be used for so much more than simply getting around the Capital, and the technology is there to make it even more convenient for Londoners to use by integrating it into mobile phones or bank cards."

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

EDS and Cubic cling on to Oyster contract

EDS and Cubic cling on to Oyster contract

20 November 2008  |  10282 views  |  0 comments
Oyster could be replaced by mobile phones or bank cards - TfL

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

22 October 2008  |  13486 views  |  0 comments
Oyster card hack research published

Oyster card hack research published

07 October 2008  |  10315 views  |  0 comments
Barclaycard to launch public mobile payments trial

Barclaycard to launch public mobile payments trial

28 November 2007  |  15597 views  |  0 comments
Transport for London to trial mobile Oyster scheme

Transport for London to trial mobile Oyster scheme

27 November 2007  |  10043 views  |  0 comments
Barclaycard rolls out Oyster payments card

Barclaycard rolls out Oyster payments card

10 September 2007  |  15453 views  |  0 comments
Transport for London deal combines Oyster and Barclaycard

Transport for London deal combines Oyster and Barclaycard

13 December 2006  |  12540 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
Visit www.abe-eba.euVisit capgemini.comVisit VocaLink.com

Top topics

Most viewed Most shared
MasterCard agrees £700m VocaLink acquisitionMasterCard agrees £700m VocaLink acqu...
9525 views 14 comments | 33 tweets | 38 linkedin
satelliteContactless Bitcoin startup Plutus Tap &am...
9525 views comments | 9 tweets | 4 linkedin
Apps crush internet for UK banking loginsApps crush internet for UK banking logins
8409 views comments | 19 tweets | 25 linkedin
Telefonica Germany launches Fidor-backed mobile banking serviceTelefonica Germany launches Fidor-backed m...
6532 views comments | 16 tweets | 19 linkedin
hands typing furiouslyHow machine learning can cut costs on tran...
6080 views 0 | 12 tweets | 3 linkedin

Featured job

Find your next job