MasterCard Signs Multi-Million £ London Transport Sponsorship
Transport for London has announced a new, multi-million pound sponsorship with MasterCard to exclusively brand TfL's Oyster card wallets for 2011. Oyster card wallets are distributed with all new cards issued and are available from Tube and rail stations, and Travel Information Centres within London. Almost 40 million Oyster card wallets have been distributed since 2003.
The multi-million pound deal builds on TfL's efforts to secure sponsorship from the private sector to support investment in London's transport network.
'This is yet another example of our determination and ability to land great deals with major private companies in order to get the best value for money for Londoners," Kulveer Ranger, the Mayor's Transport Advisor, said.
The revenue generated by the deal will go to protecting frontline services and further investment in the Tube upgrades and construction of Crossrail. The branding of Oyster card wallets is an example of TfL's larger objective of supporting investment in London's transport network funded through corporate sponsorship.
"Oyster provides millions of consumers every day with a convenient way of accessing London’s transport system but a contactless card can offer even more," Hany Fam, president of MasterCard’s British division, said. "Missing a train because you have to queue up to buy a ticket or waiting for a bus only to find you don’t have enough value to travel could be a thing of the past."