By 1991, the token technology was becoming dated: almost all other transit systems were using magnetic farecards, which were found to be much cheaper than the token system. Three months later, the New York state legislature voted to allow the MTA to proceed for its plans for the new system. In March 1990, the MTA board voted to allocate funding for the magnetic fare collection system. However, bureaucratic actions and disagreements delayed the rollout of the system. In 1984, Ravitch's successor Bob Kiley said that he would try to create a system for the new farecards within the next four years. This plan was generally supported by the public. The card would replace the tokens that were, at the time, used to pay transit fares. It was the 'highest priority' for then-MTA Chairman Richard Ravitch. The idea for a farecard with a magnetic strip for the MTA system was proposed in 1983.

6.5 Commuter railroad ticket vending machines.

4.7 Disabled/Senior Citizen Reduced-Fare MetroCard.

Īs of early 2019, the direct costs of the MetroCard system had totaled $1.5 Billion.

The MetroCard Vending Machines are manufactured by Cubic Transportation Systems, Inc. The MetroCard is managed by a division of the MTA known as Revenue Control, MetroCard Sales, which is part of the Office of the Executive Vice President. It will be replaced by OMNY, a contactless payment system where riders pay for their fare by waving or tapping credit or debit bank cards, smartphones, or MTA-issued contactless smart cards.

The MetroCard is expected to be phased out by 2023. The MTA discontinued the use of tokens in the subway on May 3, 2003, and on buses on December 31, 2003. The card was introduced in 1993 to enhance the technology of the transit system and eliminate the burden of carrying and collecting tokens. It is the primary payment method for the New York City Subway New York City Transit buses, including routes operated by Academy Bus under contract to the Metropolitan Transportation Authority (MTA) and MTA buses Nassau Inter-County Express (NICE) systems the PATH train system the Roosevelt Island Tramway AirTrain JFK and Westchester County's Bee-Line Bus System. The MetroCard is a magnetic stripe card used for fare payment on transportation in the New York City area.

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