TfL terminating Oyster Contract

Big surprise of the day, just heard that Transport for London are terminating the £100m a year Oyster contract. Wow, was it something we said? Or is it due to the recent two Oyster card failures on the London Underground in as many weeks (which cost £1million) and general worries about hacking & playing around with the system and potential security breaches of the Oyster card system?



Shashi Verma, TfL's Director of Fares and Ticketing said: 'Transport for London is committed to delivering value for money across all of its services.

'As part of this we are looking at more cost effective ways to manage and develop the Oyster card system that we expect will save millions over the next few years.

'The savings will be reinvested to deliver further improvements in London's transport system.'

I must thank Phill Price for giving me the heads up to this.

For now the statement in the press release is all TfL are saying. It will certainly be interesting to see whether it will be replaced or if it's just going to a different supplier. It's quite hard to tell from the current, I'd say deliberately vague, statement.