From
The Guardian:Buses to accept Bristol pounds in boost for local currency
FirstGroup says trips starting or ending in Bristol can be bought using city-wide currency designed to promote local business
The UK▸ 's first city-wide independent currency has received a boost after a major transport company agreed that passengers could use the notes to pay for travel.
First in West of England, part of the international operator FirstGroup, would begin accepting Bristol pounds for bus trips starting and ending in the city. Travellers would also be able to buy passes at the bus station using the currency's electronic payment system.
The bus company, which operates more than 500 vehicles in the south-west, said it would try to give any change in Bristol pounds but accepted that most was likely to be tendered in sterling.
First said it would use any Bristol pounds it collected to pay for some of those local services it used through business rates. It might start to accept the currency in its canteens and would pay staff in Bristol pounds if they wanted.
The move by First is seen as a significant step forward for the not-for-profit scheme, which was launched 12 months ago and is designed to encourage people to shop and do business locally.
Ciaran Mundy, the Bristol pound director, said: "We want the Bristol pound to be used in everyday transactions by everyone in Bristol, because Bristol pounds stick to Bristol, supporting local businesses and building community connections to create a fairer, stronger, happier local economy.
"At the same time increasing our use of public transport and reducing dependence on private cars is also vital for improving air quality and tackling climate change. We are very happy to work with First to encourage everyone in Bristol to use Bristol pounds and to get out of our cars and on the bus."
The interim managing director of First in West of England, Paul Matthews, said: "We believe we are the first bus company in the UK to sign up to join a local currency scheme. The Bristol pound has been going for a year and it has developed a loyal following. We hope that in working with the organisers we can help to increase usage further, providing a welcome boost for the local economy at the same time."
The Bristol pound team has met bus drivers and workers to explain how the currency works and how to spot fake notes.
In the year since the currency was launched, more than ^260,000 has been converted from sterling to Bristol pounds (^B) and more than 600 businesses in the city and beyond are accepting the currency.
Around 1,200 people have Bristol pound accounts, enabling them to make virtual transactions. Some ^B70,000 has been paid in local business rates while the city's independent mayor, George Ferguson, takes his wages in the local currency. Directors are confident that in another two years the equivalent of ^5m will be circulating in the city's own money. That would make the scheme, currently supported by grant aid, self-sufficient thanks to fees levied on text and online payments.
