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Going cashless on London Transport on the public and stakeholder engagement June 2018Contents Executive summary .....................................................................................................
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Step 1: Obtain a contactless payment card, such as an Oyster card or a debit/credit card with contactless functionality.
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Going cashless in London refers to the increasing trend of using digital payment methods instead of physical cash for transactions, including public transport and retail purchases.
Businesses operating in London that accept cash payments are required to file going cashless documentation if they intend to transition to a cashless payment model.
To fill out the going cashless documentation, businesses must provide details about their current payment methods, the planned transition to cashless, and any supporting financial data that illustrates the need for such a change.
The purpose of going cashless in London is to enhance the efficiency of transactions, reduce cash handling costs, improve security, and streamline public services and financial transactions.
Businesses must report their existing cash usage, the percentage of cash transactions, plans to implement cashless systems, and any adjustments made to pricing or services as a result.
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