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No more using cash on the bus from next year in Transport for London cost-cutting plan
Using cash on the bus could soon be a thing of the past amid plans to introduce Oyster-only payment.
Transport for London (TfL) has today launched a public consultation on withdrawing cash fare payments on London buses.
The capital's public transport operator said this year cash fares will make up less than one per cent of bus journeys - down from 25 per cent in 2000.
TfL wants to see cash fare payments on London buses ending in 2014, which it argues would speed up boarding times and allow them to deliver up to £24m of yearly savings.
Research shows that the majority of cash paying passengers tend to be aged between 16 and 34.
TfL said it is also looking at measures to introduce a new Oyster feature that will allow passengers to make one more bus journey if there are insufficient funds on their Oyster card - helping them to get home or to the nearest station or Oyster Ticket Stop. Any negative balance on the Oyster card would be corrected upon the next successful pay as you go top up.
Leon Daniels, managing director for TfL surface transport, said: “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.”
To see the consultation, visit TfL's website. The closing date to have your say is October 11.
What do you think? Do you ever use cash on the bus?
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