Digital Media Europe: News reports that Transport for London aims to incorporate low value payments to its Oyster travel card. It has announced that the potential partners for developing this e-money capacity are: Alphyra; Barclays; BBVA/Accenture/MTR/Octopus; EDS/JPMorgan; Nucleus/Dexit/Ericsson/Hutchison 3G UK/Euroconex; Paypal and RBS. These companies may negotiate with Transport for London over provision of the proposed service this summer.
TfL aims to incorporate e-money to its contactless ticketing and payment smart card, Oyster, allowing holders of the card to use it to make low value payments for goods and services at news agents, parking machines, fast-food restaurants, supermarkets and other locations where the transaction speed is important and cash is inconvenient.
TfL expects to confirm a partner by the end of the year and aims to commence trials for Oyster e-money in late 2005 or early 2006.