If proposals from Transport for London (TfL) go through, London buses could be completely cashless by next year.
According to bbc.co.uk, TfL has predicted that the number of fares paid by cash will fall to below one per cent this year, compared to 20 per cent ten years ago.
Today (19th August) a public consultation was launched to discuss the proposal to scrap the use of cash on London buses, if the proposal goes through by 2014 all bus fares will have to be paid by Oyster Card, reports thisislocallondon.co.uk.
Businesspeople travelling around London to meeting venues could benefit from the change, as TfL says removing cash fares would speed up boarding times allowing travellers to get around the capital quicker, which would save the capital £24 million a year.
TfL has also mentioned that there are plans to bring in a new Oyster Card feature which would help those who need to get the bus home but have forgotten to top up their card. The system would allow a passenger to use their Oyster Card to get home, even if there is no money on the card. The next time the user tops up, they’ll be charged for the journey.
Leon Daniels, TfL’s surface transport managing director, said: “It costs £24 million 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.”