19 August 2017
Find out more

EDS and Cubic cling on to Oyster contract

20 November 2008  |  10755 views  |  0 oyster card

Transport for London (TfL) has selected Cubic Transportation Systems and EDS to run the capital's pre-paid contactless travel card system in a deal that sees the Oyster brand retained.

Cubic and EDS are both part of the Transys consortium that has been running the system via a 17 year public finance initiative (PFI) contract since 1998.

In August TfL decided to ditch the Transys deal in 2010 by exercising a break option. The organisation has now selected Cubic and EDS to manage and develop the system from 2010 to 2013 in a move it hopes will save millions of pounds.

Shashi Verma, director, fares and ticketing, TfL, says: "This new deal will see Oyster in the pockets of Londoners for years to come and will save significant money that TfL will invest in improving transport in the capital."

Under the deal, the Oyster brand will also pass to TfL. In October TfL told the London Assembly the Oyster brand could be scrapped in 2010 and also suggested a new system that uses mobile phones or bank cards could be introduced.

In addition, the organisation says Oyster "will also be available if required for the 2012 Games".

Transys and the system it runs have 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.
KeywordsEFTPOS

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

GSMA calls for NFC as standard feature on mobile handsets

GSMA calls for NFC as standard feature on mobile handsets

19 November 2008  |  7539 views  |  0 comments
Utah Transportation Authority plans contactless transit system

Utah Transportation Authority plans contactless transit system

12 November 2008  |  8630 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  |  13959 views  |  0 comments
San Francisco contactless transit trial hailed a success

San Francisco contactless transit trial hailed a success

07 October 2008  |  6612 views  |  0 comments
Oyster card hack research published

Oyster card hack research published

07 October 2008  |  10701 views  |  0 comments
Security fears raised over London Oyster card

Security fears raised over London Oyster card

23 June 2008  |  17384 views  |  0 comments
UK transport authority to pilot contactless payments

UK transport authority to pilot contactless payments

29 February 2008  |  15225 views  |  0 comments
Barclaycard to launch public mobile payments trial

Barclaycard to launch public mobile payments trial

28 November 2007  |  15996 views  |  0 comments
Transport for London to trial mobile Oyster scheme

Transport for London to trial mobile Oyster scheme

27 November 2007  |  10408 views  |  0 comments
Barclaycard rolls out Oyster payments card

Barclaycard rolls out Oyster payments card

10 September 2007  |  16883 views  |  0 comments
Transport for London issues 10 millionth Oyster card

Transport for London issues 10 millionth Oyster card

12 January 2007  |  14213 views  |  0 comments
Transport for London unveils plans for e-money on Oyster

Transport for London unveils plans for e-money on Oyster

04 March 2005  |  11997 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.abe-eba.euvisit www.dorsum.eu

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
8050 views comments | 22 tweets | 23 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
7421 views comments | 19 tweets | 23 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
6274 views comments | 10 tweets | 7 linkedin
hands typing furiouslyWhy Blockchain Might Not Be The Future For...
6133 views 1 | 5 tweets | 3 linkedin
Apple sidelined as Beijing transit system launches payments appApple sidelined as Beijing transit system...
5981 views comments | 11 tweets | 9 linkedin

Featured job

£100-120K Basic dependent on experience plus subst...
London

Find your next job