Savings made by axing cash fare payments on London's buses can be reinvested into the capital's transport network, the Managing Director for Transport for London Surface Transport said today.
Leon Daniels added:
The proposals we are consulting on reflect the changing way that our customers pay for their journeys – with the vast majority now benefiting from the best possible fares and the convenience that Oyster and contactless payment cards deliver.
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.
More top news
Pictures of today's events unfolding following a major security incident at the Houses of Parliament.
At least two people have died after a knifeman brought terror to the heart of Westminster.
The Cobra committee brings together government ministers with senior officials of the emergency services and security agencies.