Cash is still king, when it comes to Kamloops parking

KAMLOOPS – Loonies and toonies still drive the revenue stream for parking in the City of Kamloops despite the digital options available.

In 2017, cash parking in the City of Kamloops amounted to revenue of almost $822,000 which is well ahead of the combined on street and off street lot credit card payments for parking of just over $418,000.

Telepark numbers, payments made by texting or calls, are significantly lower at just under $17,000. While paying my text message is a convenience, there is a 35-cent fee associated with each transaction, whereas cash and credit card payments are free of any additional fees.

John Ramsay, community safety and enforcement manager for the City of Kamloops, attributes the high number of people paying cash because parking is so cheap.

“The rates are quite low,” Ramsay says. “So it’s easy for someone to pay with a loonie or toonie in their pocket.”

Though cash accounts for the majority of payments for parking, it is the only payment method that has decreased over the past year.

In 2016, cash payments accounted for just over $889,000 which is roughly a seven per cent decrease for 2017.

Telepark numbers jumped 90 per cent from 2016 to 2017, and credit card payments had a 10 per cent payment increase over the same time frame.

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