MASTERCARD, INC. London, September 16, 2014 - From September 16, millions of customers will have easier and more convenient journeys as Transport for London (TfL) introduces contactless payments on Tube, tram, DLR, London Overground and National Rail services that accept Oyster.
Contactless MasterCard debit, credit or pre-paid cards can be used to make quick, easy and secure payments for everyday purchases of £20 and under. There is no need for a PIN or a signature; customers simply have to touch their card on the reader. Customers using contactless payments for their travel will benefit from having their fares capped - this automatically calculates the best value for their contactless travel in a day or over a seven-day period from Monday to Sunday.
Shashi Verma, TfL's Director of Customer Experience, said: "Accepting contactless payments on transport in London is a fantastic achievement for our city - it provides our customers with the most convenient way to pay for their travel and highlights the capital's position as a world leader in transport ticketing. Oyster will continue to be available, contactless payments are another option that let our customers travel without the need to top up Oyster credit."
Marion King, President at MasterCard UK&I said: "MasterCard has long supported TfL which will now offer travelers the convenience of paying for their journeys with contactless technology. Today's milestone means travel on buses, tubes, tram, trains and the DLR can all be paid for with contactless cards or devices. The MasterCard Global Destination Cities Index shows us that London is the World's number one destination and is projected to receive nearly 19 million visitors in 2014. All of these visitors using the TfL network will benefit from the ease, speed and security which contactless payments bring with it. Paying for journeys by contactless enabled phones is also a reality with MasterCard's Cash on Tap partnership with EE, and we will continue to innovate to ensure electronic payments are convenient and safe across London's transit network."
Contactless payments were launched on London's buses in December 2012 and have been a resounding success, with over one million customers using their contactless payment card to pay their bus fare around 20 million times. Each day there are around 69,000 payments made using contactless on London Buses.
Some non-UK cards may not be accepted, card holders should check the TfL website before attempting to use them for travel.
About MasterCard
MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world's fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard's products and solutions make everyday commerce activities - such as shopping, traveling, running a business and managing finances - easier, more secure and more efficient for everyone.@MasterCardAPand@MasterCardNews, join the discussion on the Cashless Pioneers Blog and subscribe for the latest news on the Engagement Bureau.
Media contacts:
Ked Mather, MasterCard, +44 207 557 6877 kedesh_mather@mastercard.com
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