TfL looks for bidders to take over £800m fare system contract
TfL has launched a procurement process for the maintenance and operation of its fare system.
Worth more than £800m, the seven-year agreement will start in August 2026 after the current contract, signed in 2014 by IT service manager Cubic Transportation Systems, expires.
The new contract could be extended by a further five years, for a total of £1.5bn, trade magazine the Railway Gazette first reported.
As part of the agreement, the public body will look to roll out new card readers at stations as well as update the software and refresh both front and back office operations.
Companies are expected to make a bid by 27 January, while tender invitations will be issued on 6 March.