Jersey's bus company earns only 72p for every £1 received in cash payments, according to its director, Kevin Hart.
Speaking to a scrutiny panel, Liberty Bus revealed that processing cash payments costs the company £65,000 annually. The Economic and International Affairs Panel was examining payment methods and the extent to which island residents still use cash.
Hart explained that bus drivers must deposit all cash into a counting machine, which then requires manual counting, separation, and binding—a process made more difficult as the current machine is nearing the end of its life. Replacing the machine would cost £30,000, contributing to the overall £65,000 processing expense, excluding management time and reconciliation.
He noted that only 2.5% of fares are paid in cash, with most passengers opting for the discounted pre-paid Avanchi card or bank cards. Despite the high processing costs, there are no plans to stop accepting cash payments, a decision that would require approval from the States.
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