NFC TIMES Exclusive insight – Transport for London’s recent deal with Google to put the Google Pay Logo on more than 5,600 contactless gate readers across the large London Underground network is not the first time that the London transit authority has rented out its prime payments real estate to sponsors. Nor is it the only transit agency that has profited from sponsorship deals tied to its contactless EMV transit payments services.
The deal is worth more than £1.5 million (US$1.93 million) for the 12-month period–which this month will replace all of the yellow Oyster card sticker pads at gate readers with stickers featuring the Google Pay logo. And its not Google's first sponsorship deal with Transport for London.
Google also promoted its mobile payments service with banners on the sides of the turnstiles themselves and on the gate doors in 2018. But the latest deal is believed to be the most lucrative of all.