July 21st 2005

Transport for London (TfL) has announced the shortlist of potential partners for the development of e-money.

This marks an important step forward for TfL's aspiration to extend the use of its successful ticketing and payment smart card, Oyster, to low value payments for goods and services at newsagents, parking machines, fast food restaurants, supermarkets and other locations where the importance of transaction speed and the inconvenience of cash are recognised.

Nucleus Consortium SPV includes Dexit, Ericsson, Hutchison 3G and Euroconex. Nucleus, which has successfully hosted Oystercard's transaction platform since its inception 2 years ago, was the instigator of the consortium bid.