Transport for London (TfL) is mulling over plans to phase out cash payments on the capital’s 7,500 buses in order to prevent queuing and speed up services.
According to metro.co.uk, executives at TfL are considering the move as just one per cent of passengers use notes and coins compared to 25 per cent in 2000.
In addition, cutting cash payments could increase safety and cut administration costs.
Instead of cash, those travelling to London would have to use Oyster and contactless bank cards in order to pay their fare. As a result those who travel to the capital often, such as businessmen and women holding conferences in meeting venues, will have to pay up for an Oyster card.
Caroline Pidgeon, leader of the Lib-Dem group at the London Assembly who sits on the Assembly’s transport committee, weighed up the pros and cons of the scheme.
Speaking to standard.co.uk, she said: “With all buses now having ‘wave and pay’ facilities the decline in passengers paying by cash is set to fall even further. My number one concern is that ever fare offered by Oyster remains the cheapest on offer. It is vital that people without access to a bank account can access the lowest fares.
“At the same time TfL also needs to take great care over how they deal with passengers travelling late at night,” she added.