If you live in the New Jersey/Philadelphia region then you can soon look forward to paying for your morning commute and shopping all with the same prepaid card.
As of Sept. 26, some commuters in the region became part of a 12 month pilot program using a new prepaid card that allows for both the payment of retail purchases and transit expenses with just a swipe.
The card, called the PATCO Wave & Pay ANYWHERE Card, was conceived out of a joint venture between the Port Authority Transit Corporation and fare collection systems solutions provider Cubic Transportation Systems Inc., uses Visa payWave technology for simplified payments solutions and can also be used to withdraw cash at ATMs.
PATCO Wave & Pay Reduces Expenses
The real draw of the cards for the PATCO system is reduced costs. Similar to the FREEDOM Card the transportation system produced, the cards eliminate the need to produce fare cards. What sets the new cards apart is that they offer commuters one less card to carry in their wallets since they work on what’s called an called an “open-loop” payment system, which allows consumers to make both transit payments and ordinary payments anywhere that the card is accepted. According to a statement announcing the beginning of the pilot program, the system the card operates on stands in stark contrast to the “closed-loop” system typically used by commuters to pay for the commutes.
Another feature of the cards is that they can be reloaded either online, at special kiosks along the PATCO transportation system or by setting up a direct deposit. They can also be used to pay at PATCO gates and parking terminals, are accepted anywhere Visa debit cards are and become FDIC-insured up to $250,000 once registered on the PATCO’s website.
How To Participate in the Pilot?
If you’re a frequent rider of the PATCO system and want to participate in the pilot program then make sure to look out for brand ambassadors, which will be posted at six kiosks along the transportation system’s stations for the first two weeks of the pilot program.
If you’re interested in participating in the pilot program then head to PATCO’s website, which has more information on the PATCO card and how it can be used and loaded.