Transport for London (TfL) has signed a new agreement with Cubic Transportation Systems for the future management and development of the Oyster card system.
TfL said that its new contract with Cubic will deliver £30m of savings over three years – £10m per annum – as part of TfL's £5bn efficiency programme.
The deal replaces the existing Public Finance Initiative contract with Transys Consortium and gives TfL full control of the Oyster brand. It is now looking to explore the potential for Oyster to be extended to new and existing technologies.
“TfL has already undertaken a trial of Oyster on bank cards and mobile phones but now that we have complete control over the Oyster brand we can investigate options that make life easier and more convenient for Londoners to travel while also increasing the accessibility of Oyster,” said Shashi Verma, TfL's director of fares and ticketing.
The cancellation of the Transys contract was announced in 2008 but due to contractual agreements, TfL was forced to wait until this month to end its relationship with the technology provider.
Have your say on this article
Newsletters
Latest stories from Developer
Latest videos
You may also like
Developer jobs
Technology Patent Wars
Case studies from large organisations across all sectors
... And rich media, and flexible working, and peaks in traffic ...
Upcoming Events
Join us for this Computing web seminar, in which the Head of BI at the Co-operative Group Nick Colebourn will be explaining just how he reigned in the Group’s sprawling database estate and how significant savings were realised and data quality improved as a result.
Date: 31 May 2012
Time: 11:00 AM
Live June 13th 11:00am: Register now. During this web seminar we will be looking at the sorts of incidents that can bring data centres grinding to a halt and what can be done about them.
Date: 13 Jun 2012
Time: 11:00 am
Receive the latest jobs direct to your inbox
Are you being paid what you are worth?
