By the end of next year, card readers across the city will be upgraded
to allow pay-as-you go travel on the London Overground, Underground,
Docklands Light Railway, tram and bus networks.

TfL says it is also negotiating with train operating companies over
whether the system could be extended to ticket barriers at mainline
stations where the Oyster smart card is currently accepted.

The project involves upgrading software in the Oyster system to
recognise contactless credit and debit cards issued by Visa,
MasterCard, and American Express. More than 12 million contactless bank
and credit cards are already in circulation in Britain and this number
is expected to exceed 20 million within a year.

TfL says that when the system is fully operational it will even
recognise cards issued by overseas banks, simplifying access to the
network for foreign visitors to the city.

Since 2007 transport authorities in a number of cities including New
York, Chicago, Paris, Sydney and London have worked together to
research the viability of contactless payment. Most of the participants
in this group are now implementing their own contactless fare payment