Cash no longer King as taxi drivers say they go ‘entire weeks’ without handling banknotes
- Perry Richardson
- 13 minutes ago
- 3 min read
Cash once ruled the taxi trade up and down the UK. Drivers would finish their shift with a pocket full of notes and coins, ready to refuel or take their earnings to the bank the following day. That era has all but vanished. In today’s licensed taxi industry, digital payments have taken near total complete control.
In London, card acceptance has been mandatory for black cabs since 2016. Every taxi must carry an approved card terminal, and all passengers must be given the option to pay by card or contactless. What started as a convenience for passengers has now become the standard. One driver told TaxiPoint that he could “easily go a whole week without a single cash fare” thanks to the dominance of digital booking apps and contactless payments.
The transition was gradual at first. Card machines were once seen as a backup for tourists or business users. Over time, passengers began to prefer the ease and speed of contactless payments, particularly after the introduction of Transport for London’s contactless system across buses and the Underground. Then came the pandemic, which effectively ended cash handling in many sectors overnight. For taxis, the habit stuck.
Today, most fares are processed either through in-app transactions on platforms such as Freenow or Gett, or via an in cab card terminal. These services automatically quickly charge the passenger bank account, leaving no opportunity for cash to change hands. For drivers, this has created a new reality: takings are now digital, often transferred several days later, minus processing or commission fees.
Many drivers acknowledge that card payments bring advantages. They reduce the risks of theft, disputes, and counterfeit notes. Digital transactions also provide a clear record of income, which simplifies accounting and supports access to finance. But the loss of immediate access to cash has changed how drivers manage their work and finances.
Cash once offered flexibility. A driver could finish a long shift, fill the tank, and still have money in hand for personal use. Now, with earnings tied up in digital transfers, that immediacy has gone. Some drivers also highlight the impact of card payment transaction fees, which can range from 1.5% to 5% per fare depending on the platform. Over time, those charges add up to a noticeable cut in income.
Other small businesses that rely on face-to-face transactions, such as takeaways, market traders, and corner shops, share the same frustration. Digital payments are convenient for customers but carry costs for the business. For the self-employed, those small deductions can make a real difference, especially during quiet periods.
While a small number of passengers still offer cash, it is now the exception rather than the rule. Tourists, particularly from regions where cashless systems are less common, occasionally hand over notes, but even they are adapting quickly. In many London taxis, the coin tray now sits empty for days at a time.
The shift reflects a wider social trend. According to UK Finance, only around 6% of transactions nationwide were made in cash in 2024, down from more than 50% a decade earlier. Contactless cards, mobile wallets, and online banking have all contributed to the steady decline of physical money.
For the taxi trade, this marks a defining change. What was once a cash-led business has become fully digital within a single generation. The trade has adapted, but many drivers still miss the simplicity and control that came with counting their earnings by hand at the end of the night.
