Proposals currently being considered could see the famous red buses of London become swipe payment only, with cash fares no longer accepted.
Ten years ago 20% of bus journeys were made using cash payment, but Transport For London predicts that this will be as low as 1% by the end of the 2013.
A public consultation is to be carried out considering the ramifications of withdrawing the cash payment option next year. This will look at how this change would affect those living in areas further out of London and tourists, and the possibility of offering an option by which passengers could make one journey over their credit so they would not be stranded if they were unable to top up.
TfL are considering this change to bus journeys as it costs £24m to keep the cash payment option in place but such a small minority of passengers actually use it.