London buses go cashless
07 July 2014 | 11382 views | 8
London buses have stopped accepting cash fares in a move that Transport for London (TfL) says will save £24 million a year.
As of yesterday, passengers must pay for their journeys with an Oyster or contactless payment card, or a prepaid or concessionary ticket.
Cash fares made up less than one per cent of bus journeys this year - down from around 25% a decade ago. But the decision to remove the option has proved controversial. A recent public consultation on the issue attracted over 37,000 responses, with only a third backing the move.
To help allay one frequently cited concern about the end of cash payments, TfL has rolled out an Oyster 'One More Journey' feature, which lets people use their card once even if it does not have enough credit.
Since its introduction last month, around 44,000 customers a day have taken advantage of the service.
Mike Weston, director of buses, TfL, says: "Removing cash from our bus network not only offers customers a quicker and more efficient bus service but it enables us to make savings of £24 million a year which will be re-invested to further improve London's transport network."