London Buses May Go Cashless By End Of 2013

By PYMNTS | April 15, 2013

The London bus transport system is talking of plans to phase out cash payments by the end of 2013, reports the London Evening Standard. Currently only 1.5 percent of bus travelers in London pay fares with cash, which is about 24 million journeys per year. The Oyster card is the preferable method for the majority of travelers, and a contactless card system was rolled out earlier in 2013. The number of cash users is expected to further decrease with both of these payment options now available.

Leon Daniels, managing director for surface transport, Transportation For London, said, “We are watching the market and the number of passengers who pay cash continues to diminish. There will come a time when it won’t be worth collecting cash any more.”