I thought that there was no money for anything...
I assume that the reason for retiring older Oystercards is still because their communications protocol is old and less secure. This has been talked about before and I thought was originally meant to happen within a year or so from now. Ah well, goodbye my faithful Visitor card with images of several London landmarks on the front - but no letter D in a blue box on the back.
The card format update makes me wonder if the remaining Oystercards will be modified so that they work more like contactless for fares calculations with the cost of travels deducted overnight, albeit from funds which are held on TfL's computers rather than either the Oystercard or charged to a bank / credit card account.
I wonder how all this will work with anonymous Oystercards that can be shared by family members and friends - albeit with a restriction that only one person can use it at a time. These are the only form of fares payment system which will ensure GDPR compliance - because they do not need to store (or be otherwise associated with) personally identifiable user data.
I also wonder about the future of 'topping up' monetary value to Oystercards. Especially for small amounts which are paid in cash there really is no need for things like 'Know Your Customer' compliance - this is a banking requirement but TfL did not want to get involved in such issues. This is why Oyster acceptance never extended beyond transport - unlike the Hong Kong Octopus smart card which has effectively become a general payment card and personal ID card.
btw, if there is a real desire to be at the cutting edge of technology, a crypto Oystercard should be introduced. The two cryptos which are looking most likely to be adopted for retail sales are Litecoin and Bitcoin Cash. Note that the original Bitcoin is something different and for various reasons, including high transaction fees, is unsuited for this function.
Simon