Transport for London renews contactless payment processing contract
UK: Transport for London has renewed Barclaycard’s contract to provide transaction processing services for contactless payment. The merchant acquirer contract runs for seven years, with an option for a further three years.
Contactless payments was rolled out across TfL services in September 2014, and now accounts for 39% of pay-as-you-go journeys across the network.
‘Contactless payments have completely transformed the way people pay for travel in London, with more than 800 million journeys already made and around 1·8 million journeys being made every day’, said TfL Chief Technology Officer Shashi Verma. ‘This new 10-year contract will help ensure these numbers continue to grow while also providing support to allow us to develop our ticketing system even further.’