Londoners could soon be using their Oyster travel cards to pay for small purchases in shops as Transport for London (TfL) looks at ways of adding contactless payments functionality to the smart card.
TfL says the new payment functions would enable the 2.2 million Oyster card holders in the capital to pay for low-value purchases such as milk, newspapers and car parking.
Jay Walder, MD, finance and planning, TfL, says: "The dash to the cash point and worrying about small change for parking could be things of the past. Oyster will become a quick and easy alternative for these kinds of purchases."
Walder says Oyster already provides more security and convenience than traditional travel tickets as stolen or lost cards can be cancelled and the card will soon be able to be topped-up automatically.
TfL says a pilot programme is underway at four London boroughs where Oyster cards are being used for library and leisure services.
In Hong Kong, the Octopus transit card is now accepted by approximately 300 merchants at thousands of location across the island. Fifteen per cent of the daily HK$60 million Octopus transactions are now made in retail locations, with the contactless card replacing cash for one-in-ten transactions at a typical Octopus-enabled retailer.
TfL's plans for the oyster card have already run into a political storm, with liberal democrat transport spokeswoman Lynee Featherstone accusing the company of trying to run before it can walk.
She says: "The Oyster card must deliver on its original promise of providing ticketless travel for all Londoners on the whole public transport network before embarking on a bid to remove cash from society."