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PERSPECTIVES ON DIGITAL CURRENCY

Sep 21, 2010

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Have Phone, Will Travel

A journey of a thousand miles now begins with a single wave.

Visa today announced partnerships with transit agencies in New York and New Jersey that will give commuters the ability to bypass the ticket window and pay for their fare with a mobile phone. This pilot program—which includes New York City Transit, NJ TRANSIT, and The Port Authority of New York and New Jersey—enables riders of mass transit systems to pay using Visa payWave-enabled credit, debit and prepaid cards and mobile phones.

The mobile technology, which was developed by DeviceFidelity, transforms smart phones with a microSD slot into a Visa payment device. This announcement is a giant step toward Visa’s goal of eliminating the time-consuming step of paying for a ticket at a separate fare machine or searching for cash, reducing riders’ hassle during their commute.

This trial program covers 28 stops along the Lexington subway line in Manhattan and is accepted at the fare gates of the New Jersey PATH system, as well as multiple bus lines in New York City and northern New Jersey. These are in addition to the more than 10,000 New York City cabs that already have state-of-the-art Visa payWave terminals in their back seat, drastically improving the travel experience for millions of commuters.

But we’re not stopping in New York. Today’s announcement also includes the launch of a commercial program with the L.A. Metro system to offer riders a TAP ReadyCard Visa Prepaid Card, which can be used for both transit fares and Visa purchases everywhere Visa debit is accepted. In addition, cardholders will be eligible to deposit their paychecks directly to the Visa prepaid card account for free. This feature provides riders without traditional banking relationships added convenience and security over payment alternatives like checks and cash.

Today’s news is a continuation of Visa’s transit programs around the world, all of which are tailored to the needs of commuters and transit operators. We know life can be a hassle sometimes. We’re trying to help make moving through it a little easier.

Posted by: Elvira Swanson, Visa Corporate Relations on September 21, 2010 at 7:17 pm