Finally! Torontonians will soon be able purchase subway fares with their credit or debit cards. Beginning Jan. 1, 2015, TTC riders can use their credit or debit cards to buy ten or more single fares or any multi-fare pass at all 69 subway stations throughout the network.
Tory was critical of the city’s outdated cash-only system currently in place for the vast majority of transactions.
“In a global city like Toronto, the idea that most transactions would have to take place with cash is almost prehistoric,” he said. “It’s 2014, it’s Toronto, and I think people have the right to expect better than that.”
Byford said it will cost the TTC about $1.5 million over the course of five years to absorb the cost of introducing the credit and debit terminals. He stated that the TTC will save money over the costs to handle cash that moves through the system.
The TTC has been widely criticized for the length of time it has taken to implement credit card acceptance and the new PRESTO fare system.
Despite the finger pointing between provincial, municipal and transit authority officials, city’s such as Washington D.C. have been able to implement similar systems within one year. Aside from Toronto’s status as an international city, the center of Canada’s banking industry and a heavily used public transit system, the upcoming Pan-Am Games were oddly cited as additional incentive to implement credit card acceptance in the subway network.
Now Torontonians can finally get rewarded for using the subway with their rewards credit cards!