The decision to stop accepting cash fares on London buses reflects the changing way that people pay for goods and services in our city, including journeys on the bus network.
Paying with Oyster or a contactless payment card is not only the cheapest option, but also speeds up boarding times at bus stops and reduces delays.
It costs £24 million a year to accept cash on London's buses and by removing this option we will generate significant savings which, like all of our income, will be reinvested in improvements to the transport network.
More top news
Police have released CCTV images of a car they want to find in connection to a fatal hit-and-run on Saturday morning.
The family of murdered teenager Jimmy Mizen have held a community event in his memory to raise money for the foundation in his name.
A drawing made for one of the famous paintings from the Victorian era - Flaming June - has been rediscovered after more than 100 years.