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TfL board asked to approve £380m contract for credit card payments

Transport for London (TfL) will approve the successful bidder for a £380m contract to process credit and debit card payments at a board meeting on 8 November.

The contract will cover ticket sales, Oyster sales, the congestion charge, retail sales through the London Transport Museum and all other in-person, online and telephone sales.

In total, the contract holder will process £60bn of revenue over the next 10 years. The current contract expires on 31 December, and the new partner will hold the contract for seven years, with the option to extend it for a further three.

The TfL board papers said the contract was longer to allow for the use of contactless payments, which were introduced on the capital’s bus services in 2012 and the rest of the network in 2014. This means that the new partner may have to invest in adapting its current retail contactless system to cope with a transit ticketing model, so the longer contract will allow it to turn a profit.

TfL will pay around £19m to its new partner, with the rest of the money coming from Interchange and card scheme fees (for Visa and MasterCard). It said this represented a 0.8% saving compared to the value of the previous contract.

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Andrew Gwilt   01/11/2016 at 22:24

RMT. That picture of the old District Line D78 stock seems very old. Sorry to be so substantial. But a S7 stock District Line tube train is suitable.

Andrew Gwilt   01/11/2016 at 22:26

Sorry. RTM I meant.

Jon   02/11/2016 at 16:58

It's a "stock" picture, Andrew, and several D Stock units are still in service. As this is not a rolling stock related article it does not matter however.

Andrew Gwilt   02/11/2016 at 21:20

I suppose you are right. Jon. But the D78 stocks are to be displaced and are to move to Warwickshire where Vivarail are based at near Stratford-Upon-Avon and some of the former D78 stocks have been refurbished and converted into Class 230 DEMU D-Trains that London Midland are hoping to order some of the Class 230's for the Coventry-Nuneaton line and possibly other train operators outside of London are also hoping to order the former LU D78 stocks to be used in the North of England, Wales and Southwest England. And maybe the Class 230's could be used on the once completed and newly reopened East-West Rail Link between Cambridge-Oxford/Bicester.

Andrew Gwilt   02/11/2016 at 21:22

Even though Greater Anglia are ordering brand new Bi-Mode EDMU trains. The Class 230's could of been suitable for Marks Tey-Sudbury line and possibly the proposed reopening of the Cambridge-Haverhill that could see Class 230's being used on the reopened line in Cambridgeshire.

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