In the latest round of research pointing to the slow demise of cash, research from YouGov has found 75 per cent of consumers say black taxis should accept contactless payments

Commenting, Dave Hobday, UK Managing Director, Worldpay, said: “The very idea of paying for transport in London with cash is a thing of the past and throughout the economy businesses that fail to offer card payments are rapidly losing out to their more savvy, technologically advanced competitors.

“People now expect to be able to book, track and pay for their cabs at the touch of a button. Black cabs are one of the last bastions of the cash-only economy and they need to find a way to stay relevant against increasingly popular alternatives.

“Digital transformation is creating huge disruption across every industry and, while accepting card payments is a step in the right direction for London’s cabbies, there may be a few bumps in the road for them yet.”