The new Oyster contract will be run by the same lead vendors that have worked on it for the past 10 years

R E L A T E D C O N T E N T

Transport for London signs new Oyster contract

EDS and Cubic to remain key suppliers for smartcard scheme until 2015

Angelica Mari, Computing 19 Nov 2008

Transport for London (TfL) is to retain the Oyster name and branding following the completion of a new deal with EDS and Cubic for the future management and development of the smartcard.

The five-year agreement replaces the current public finance initiative (PFI) between TfL and TranSys, a consortium whose principal partners are EDS and Cubic and include Fujitsu Services and WS Atkins Consultants.

The PFI is being terminated in 2010 via the exercising of a break option in the 17-year contract that started in 1998.

The news mean that Oyster will still be in circulation for the 2012 Games. TfL is currently replacing its readers to accept the government-mandated ITSO standard to accept cards issued by other smartcard schemes in time for the event, despite the associated integration issues.

Renegotiating the Oyster contract is part of TfL's efforts to save up to £2.4bn over its 10-year business plan, which will be re-invested in the transport network, according to Shashi Verma, TfL's director of fares and ticketing.

"The new contracts will deliver better value for money and improvements to Oyster for passengers across London," he said.