Source: JP Morgan ChaseBeginning May 31, commuters in New York City will be able to simply tap their bank card or mobile wallet at select subway stations and buses, paving the way for a cashless commute.

The new contactless fare payment system, called OMNY, will initially be available to commuters at subway stations along the 4, 5 and 6 lines between the Grand Central-42^nd Street Terminal and the Atlantic Avenue-Barclays Center Terminal as well as on all Staten Island buses. By the end of 2020, it is expected that all NYC subway lines and bus routes will be tap-and-pay enabled, according to the Metropolitan Transit Authority (MTA).

All credit cards — including Mastercard, Visa and American Express — with a Wi-Fi logo on either the face of the card or on the back of the card have the tap-and-pay function.

Largely thought by experts to be a measure that will expedite the move away from cash, tap-and-pay functions via contactless cards are reportedly among the most secure of non-cash payment types. The credit cards are embedded with a near-field communication (NFC) antenna that can host proximity payments through radio waves. Payment occurs when consumers simply tap the card at point-of-sale terminals, producing a code, or dynamic cryptogram, unique to each transaction. Similarly, mobile payment techniques like Apple Pay and Google Pay also rely on data encryption to secure customer information.

“Everyday users will be the big drivers in habituating contactless payments,” said Dan Sanford, the global head of contactless payments at Visa. “It really will be a tipping point that drives adoption.”

An incentive to help drive further adoption of the scheme is being attempted by Mastercard. The credit card company is offering to refund commuters who opt to use their tap-and-pay functions at select subway terminals in the city on Fridays during the months of June and July.