Red letter day for Black Cabs as credit card AND contactless payments become mandatory.
31st October 2016
Not only is it Halloween today, it’s also D-day for the London black cab trade: with effect from today, every one of the 22,500 London black cabs are obliged to have the facility for customers to pay using contactless cards. Some might say it was a long time coming given the increasing popularity of cashless payments over the last decade – after all, back in May 2015 the British Payments Council announced that cashless payment had exceeded traditional payment types for the first time, accounting for just over half of all payments made in the UK. We think that our grandchildren will view coins and banknotes with the same amused, benign tolerance as we now view fountain pens and landline phone answering machines! But it’s not game over yet for cash: last month the new ‘plastic’ fiver was introduced – with certain serial numbers changing hands for large sums on eBay – and next year we can expect to see the new 12-sided £1 coin. So now every self-respecting visitor to London and native Londoner can hop into a black cab without having to worry about having enough cash on them, though we’re confident that London cabbies will be just as happy to accept good old-fashioned cash – indeed many London cabbies are quite happy to take dollars and Euros too: on the money, as always!