The transition to the new tap-and-go system for New York City subway and bus riders is expected to save the agency at least $20 million annually, it said.

The MTA started installing OMNY, a contactless fare payment system, back in 2019, and the agency has been in the process of phasing out MetroCard machines over the past few years. The OMNY system allows riders to pay with their cellphone, smart watch, credit, debit or prepaid cards without having to purchase and swipe a physical card.

The iconic yellow MetroCard, a symbol of New York City transit for nearly three decades, is set to become a relic of the past. The Metropolitan Transportation Authority (MTA) has revealed plans to phase out MetroCard sales by the end of this year.