Transport for London (TfL), which runs public transport in the city, said in a statement that dwindling numbers of passengers were using money to pay for their journeys.
Travellers on London's signature red buses must now use Oyster transport swipe cards, prepaid or concessionary tickets, or contactless payment cards. TfL added that more than 99 per cent of bus passengers are already using these payment methods.
Tourists will be largely unaffected because the vast majority tend to use a prepaid ticket such as a Visitor Oyster card to get around London, according to the transport authority.
"The way our customers pay for goods and services is evolving, so we need to ensure our ticketing evolves too," said Mike Weston, TfL's director of buses.
"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 ($42 million, 30 million euros) a year which will be re-invested to further improve London's transport network."
source: www.abs-cbnnews.com
