Now there is a new arrangement with Cubic Transportation Systems Limited and EDS. Shashi Verma, TfL's Director of Fares and Ticketing said:
'This new deal will see Oyster in the pockets of Londoners for years to come and will save significant money that TfL will invest in improving transport in the capital. Transport for London is delighted that its successful partnership with Cubic and EDS will now continue for the next five years.
'The new contracts will deliver better value for money and improvements to Oyster for passengers across London.'
It could hardly deliver worse value for money and I certainly look forward to hearing what the improvements will be. Thanks to Phill Price for letting me know about this.