American Express to Launch Contactless Cards -- Update
May 30 2019 - 2:58PM
Dow Jones News
By Josh Beckerman
American Express Co. (AXP) said it has "joined forces" with New
York City's Metropolitan Transportation Authority on contactless
payments.
The MTA previously said a new fare payment system called OMNY
would roll out starting Friday.
"To help foster adoption of contactless payments in the MTA and
beyond," all newly issued and replacement American Express Consumer
Cards in the U.S. will be contactless starting in July.
The new system initially will be available at the 4, 5 and 6
lines between Grand Central-42nd Street and Atlantic Ave.-Barclays
Center and Staten Island buses.
On Wednesday, Fitbit Inc. (FIT) said Fitbit Pay will be part of
the MTA's pilot program. Last week, Visa Inc. (V) and JPMorgan
Chase & Co.'s (JPM) Chase described the benefits of the MTA's
plan; a Visa survey found more than two-thirds of riders "have
missed a train while waiting in line to reload a transit card."
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
May 30, 2019 15:43 ET (19:43 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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