A Freedom of Information request from Moneysavingexpert.com showed around 37 million peak daily London travelcards were purchased in the more expensive paper format.

The financial advice site recommends that passengers always use contactless tickets when making journeys, as these automatically cap spending depending on the route a passenger takes.

Electronic payments have been steadily increasing across the UK at the expense of cash in recent years, with even Big Issue sellers accepting contactless from September of this year.

Moneysavingexpert said that paying for public transport in London could be “daunting”, especially for first-time visitors to the capital who are most at risk of overpaying.

At current fare rates, you’ll pay £3 more for a zones 1-4 peak daily travelcard, compared with hitting your maximum daily fare cap for zones 1-4, and £5.90 more if using a zones 1-6 peak daily travelcard.

The figures did show a steady decline since 2015 in the number of travelcards being bought by passengers, as people get more used to contactless payments.

Johanna Noble, consumer expert at Moneysavingexpert.com, said: “With so many peak daily travelcards still being sold, it’s clear that many London travellers still aren’t aware that there are cheaper options available.

“It’s a travesty that passengers – many of whom are likely just to be visiting the capital rather than commuting in – have been overpaying to the tune of £184m since 2015, with transport in London already so expensive. It begs the question why these peak daily travelcards are still being sold at such an inflated price.”

Last year, it emerged that TfL was also hoarding over £300m in funds left on unused Oyster cards, as many people who seldom use London’s public transport system fail to return their card and receive the leftover balance.

TfL chief technology officer Shashi Verma said: “Using Oyster or contactless to pay as you go is now the most popular way to travel by public transport in London, with around 63 per cent of all Tube journeys now made this way.

“These methods of payments are quick, easy and secure and are better value than buying a one-day paper travelcard.

“We run a promotional campaign, which includes station posters and announcements and information on our website, to encourage customers to use these methods.

“Over the last five years the number of people buying paper tickets has reduced by two-thirds. However, some customers still prefer purchasing paper tickets and this is often out of habit.”

A Freedom of Information request from Moneysavingexpert.com showed around 37 million peak daily London travelcards were purchased in the more expensive paper format.

The financial advice site recommends that passengers always use contactless tickets when making journeys, as these automatically cap spending depending on the route a passenger takes.

Electronic payments have been steadily increasing across the UK at the expense of cash in recent years, with even Big Issue sellers accepting contactless from September of this year.

Moneysavingexpert said that paying for public transport in London could be “daunting”, especially for first-time visitors to the capital who are most at risk of overpaying.

At current fare rates, you’ll pay £3 more for a zones 1-4 peak daily travelcard, compared with hitting your maximum daily fare cap for zones 1-4, and £5.90 more if using a zones 1-6 peak daily travelcard.

The figures did show a steady decline since 2015 in the number of travelcards being bought by passengers, as people get more used to contactless payments.

Johanna Noble, consumer expert at Moneysavingexpert.com, said: “With so many peak daily travelcards still being sold, it’s clear that many London travellers still aren’t aware that there are cheaper options available.

“It’s a travesty that passengers – many of whom are likely just to be visiting the capital rather than commuting in – have been overpaying to the tune of £184m since 2015, with transport in London already so expensive. It begs the question why these peak daily travelcards are still being sold at such an inflated price.”

Last year, it emerged that TfL was also hoarding over £300m in funds left on unused Oyster cards, as many people who seldom use London’s public transport system fail to return their card and receive the leftover balance.

TfL chief technology officer Shashi Verma said: “Using Oyster or contactless to pay as you go is now the most popular way to travel by public transport in London, with around 63 per cent of all Tube journeys now made this way.

“These methods of payments are quick, easy and secure and are better value than buying a one-day paper travelcard.

“We run a promotional campaign, which includes station posters and announcements and information on our website, to encourage customers to use these methods.

“Over the last five years the number of people buying paper tickets has reduced by two-thirds. However, some customers still prefer purchasing paper tickets and this is often out of habit.”