New York’s MTA to accept contactless bank cards for bus and subway fare payments

New York’s Metropolitan Transportation Authority (MTA) has announced plans to enable passengers to use contactless debit or credit cards to pay for bus and subway fares by 2014.

The move follows several years of contactless bank card testing on the New York subway system and will allow MTA to move away from having to manage its own ticketing system. Instead, it will simply pay a transaction fee when a credit or debit card is used to pay for a fare.