On Track With Contactless Mass Transit Payments

If they can make it there, can they make it anywhere?

May 31 marks the launch of a contactless payments pilot with a joint effort between the Metropolitan Transportation Authority (MTA) in New York City and Chase. The MTA, as Visa has said, becomes the first U.S. transit agency to implement contactless payments by leveraging Visa’s global transit framework. In terms of contactless options, commuters can use Visa contactless cards, mobile devices or wearables.

Data:

67 percent: Share of riders Visa estimates have missed trains while waiting in line for fare cards.

66 percent: Share of riders who have left funds unused on their fare cards.

80 out of 100: The number of Visa’s top merchants that offer “tap to pay” functionality at checkout.

83 percent: Share of consumers who have had trouble getting fare cards to work at turnstiles.

31 percent: Share of personal lending held by credit unions in 2018.