Transport for London (TfL) has proposed plans for stopping cash payment on London buses, it emerged yesterday.
TfL estimates less than 1% of all bus journeys are paid for using cash, compared with 25% in 2000.
Axing cash payments could save £24m a year, said Leon Daniels, managing director for TfL Surface Transport. “The proposals we are consulting on reflect the changing way that our customers pay for their journeys – with the vast majority now benefiting from the best possible fares and the convenience that Oyster and contactless payment cards deliver.
“It costs £24m a year to accept cash on buses and with so few customers paying cash it makes sense for us to consider removing it. The savings made can then be invested into making further vital improvements to the capital’s transport network.”
A spokesperson for London TravelWatch said: “[We] would be concerned about the impact it would have on visitors to London and vulnerable members of society.
“It could also make things more difficult for passengers who live in outer London where it is not always easy to find somewhere to top up your Oyster card.”