Transportation for London Takes Its First Steps Toward Cashless Bus Travel

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1Q 2014 | IN-1018410

 

The Beginning of the End for Cash

NEWS


TfL (Transport for London) announced at the beginning of February that it will eliminate cash payments on its fleet of buses. TfL stated that cash fares on buses made up approximately 1% of all bus fares, which stood at around the 25% mark 10 years prior.

TfL put the scheme to public consultation and despite the fact that 67% opposed the proposal, the network has made the decision to stop accepting cash payment starting this summer. So what are the reasons behind eliminating cash payments and how will this play out in the wider market?

There Is No Love for Cash

IMPACT


There are a multitude of reasons why a transport authority might wish to scrap cash fares. The below bullets outline the primary drivers and reasons behind TfL’s decision to move away from cash ...

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