London minicabs benefit from cashless bus movement
By Kyle Lindsay
Monday, February 2, 2015 - 13:00
Has the London buses going cashless impacted your choice of transport?
Pro-cash passengers go elsewhere
London’s transport system going cashless has been a contentious issue among the capital’s occupants ever since plans were first introduced, but one company is noticing an increase in minicab customers since TfL made buses go cashless last summer.
Kabbee, an app that gives more than 500,000 users access to 70 of the capital’s best licensed minicab fleets, has revealed that minicabs have experienced a hike in cash paying passengers since London’s buses became cashless in July.
After a flurry of consumer concern about London’s buses no longer accepting cash payments, there has been a five per cent spike in cash-paying minicab passengers during the three month period from 6th July can be associated with TfL’s decision to ban cash from its buses.
Justin Peters, CEO and Founder of Kabbee comments on the trend: “London’s transport network is one of the best in the world, however, completely removing a payment method for bus passengers isn’t promoting consumer choice. Since starting Kabbee, we’ve learned that the key to success if to offer more choice, not less.
“The five percent increase in cash payments for minicab journeys since buses became cashless indicates that people may prefer to change their transport type, rather than the way that they choose to pay.”