Transit Ticketing Today

MTA to expand Omny open loop ticketing to all New York bus services and subway stations

Hand with nfc contactless smartphone over ticket reader

New York’s Omny contactless fare system is to undergo “a blitz phase of installations that will bring the popular new contactless fare payment system to all 472 stations as well as all MTA bus routes by the end of next year,” the city’s Metropolitan Transportation Authority (MTA) has announced... More








What's New in Payments

Uber eyes move into banking and payments business

Uber is making a fintech push with a New York hiring spree — CNBC — “There are many possible payment and lending innovations Uber could come up with: It has 93 million active users globally, most of whom use linked credit cards or fund a wallet called Uber Cash to pay for rides and food delivery… Creating a bank account has been discussed at a high level at Uber but may be years away, or the company could decide against it.”


Transit Ticketing Today

MTA reports continued uptick in contactless card usage on New York subway

MTA: Latest Omny numbers ‘exceed even our most ambitious’ projections — Gothamist — “After sharing higher-than-forecasted numbers from Saturday (the first full day of service), the latest user numbers (which reflect numbers from Saturday through Wednesday) reveal that 38,987 people have used Omny at pilot locations… The MTA had expected weekly usage to be about 6,000-12,000 users on the subways and 800-1,500 on buses.”


What's New in Payments

Bank of America to issue contactless cards in New York, Boston and San Francisco

BofA jumps on tap-to-pay bandwagon as NYC’s subway moves forward — Bloomberg — “The lender will send 4m contactless cards this month to customers in New York, Boston and San Francisco who have Visa debit or credit cards… It plans to measure usage in those markets before deciding on a broader rollout at the beginning of next year.”


What's New in Payments

Banks balk at Apple Card business

A Goldman Sachs rival pulled out of the Apple Card deal on fears it will be a money loser — CNBC — “‘Dude, if that portfolio ever makes money, I’m buying you a beer,’ an employee at the card department of a big bank texted a Goldman staffer… Citigroup was in advanced negotiations with Apple for the card but pulled out amid doubts that it could earn an acceptable profit on the partnership, according to people with knowledge of the talks… Goldman is ‘thrilled’ to be partnering with Apple, according to Andrew Williams, a spokesman for the New York-based bank.”


Transit Ticketing Today

Visa survey highlights benefits of open loop cards for transit payments

Chase and Visa provide an easier way to get around New York City with a tap — Visa — “More than two-thirds (67%) of riders have missed a train while waiting in line to reload a transit card, according to a recent Visa survey of more than 1,000 New Yorkers who take public transportation. Eight out of ten (83%) people surveyed said they have had trouble getting their transit card to work at the turnstile. And two-thirds (66%) have left or forgotten funds on a transit card, at an average of $35.10 lost.”