Visa and Chase unveiled tap-to-pay technology at the OMNY New York mass transit pilot.
Visa said that 100 partners are now enrolled in its Visa Ready for Transit program, which gives public transit agencies access to the latest technologies that will help convert local bus, subway and commuter train systems to accept tap-and-pay fare collection.
The tap-to-pay system helps customers save time that fare collection cards require during monthly reloads or standing in line to purchase tickets for a daily commute.
Visa said it has helped upgrade at least 60 new transit projects in the past year alone and it is seeing a 40% increase in fare adoption.
“Transit riders around the world are embracing the speed, security and convenience of traveling with contactless payments, and transit agencies have taken note,” Nick Mackie, global head of urban mobility at Visa, said in a company release. “We are encouraged by the continued growth of Visa Ready for Transit as a key part of accelerating the delivery of contactless travel solutions by giving transit agencies access to Visa certified solutions while helping partners maximize their investments.”
In New York, for example, contactless fare conversion has resulted in about 3 million tap-and-pay transactions since the pilot launched at the end of May when the OMNY transit pilot launched. The pilot is testing subway service between Grand Central Station and downtown Brooklyn as well as Staten Island bus service.
Cover image: Visa.