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Key Takeaway:

The estimated £1.1 billion contract would migrate Transport for London’s closed-loop Oyster card to the authority’s sophisticated contactless back-office system in order to make pay as you go its main fare product. That includes adding weekly fare capping and calculating fares and caps for concessionary fares.

Key Data:

Transport for London says it still issues up to 30,000 new Oyster cards per day, a number that hasn’t declined with the growth of use of contactless credit and debit cards to pay fares.

Transport for London is preparing for a new revenue-collection contract that will be be worth £1.1 billion, including a revamp of its Oyster closed-loop card system.

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