There are currently 24,939,352 Oyster cards in circulation that have not been used in a year or more. That's £46,631,475 worth of deposits.
TfL’s latest plans to improve ticketing include extending the use of contactless debit, credit or charge cards to pay for fares from London’s 8,500 buses to the Tube, London Overground, DLR and trams.
Oyster cards never expire. They can be used again after any length of time. Deposits and balances can also be refunded on return of the card at any time.
Oyster is widely known as the world’s most popular transport smartcard.
In 2010 Oyster acceptance was expanded to include all commuter rail services within Greater London.
Around 60 million cards have been issued and over 85% of all rail and bus travel in London is paid for using an Oyster card.
There have been a number of special edition Oyster cards over the years, commemorating events such as the 2012 London Olympic and Paralympic Games, the Wedding of the Duke and Duchess of Cambridge, The Queen's Diamond Jubilee and the 150-year anniversary of London Underground.
Oyster allows 40 people per minute to pass through ticket gates, 15 more than with paper tickets, and also makes boarding a bus three times faster.
Three names were shortlisted before Oyster was chosen. In another world, Londoners could be carrying around Gem or Pulse cards to pay for their transport.
Londoners aged 60 and over will be able to use public transport in the capital free of charge from today, with a 60+ Oyster photocard.
The scheme compliments the Freedom Pass, which is currently available to people aged 61 or over. The eligibility threshold for the pass is to gradually rise in line with the women's state pension until it reaches 66.
People can apply for a 60+ Oyster Photocard two weeks before their 60th birthday. Applications must be made online.