The London Underground and bus operator announced last year that it planned to add e-money facilities to Oyster card to allow commuters to pay for low-value goods and services at newsagents, fast-food outlets, supermarkets and parking machines.

But after more than eight months of negotiation with financial services and technology firms TfL has decided that it will be too costly to roll out the scheme.

'We have been in negotiations for a while and after this have realised that it is not economical to process e-money in the way that was originally planned using the existing Oyster card,' a TfL spokeswoman told Computing.

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