PURCHASE, NEW YORK – MasterCard is testing its contactless PayPass technology with New York City subway riders, according to a press release.

Powered by MasterCard PayPass technology, trial participants will be able to pay for their subway fare at the point of entry by tapping their Citi credit card, Citibank MasterCard debit card or payment tag on specially equipped readers mounted to subway turnstiles.

MasterCard Worldwide Group Executive, Advanced Payments Art Kranzley commented in the release that time “is the new currency,” noting that PayPass is “the ideal for quick payment environments where speed is essential and anyone who has ever commuted through the NYC subway system understands the importance of saving even a few seconds.”

T.J. Sharkey, MasterCard International vice president of business development, U.S. acceptance, said in a June 30 press release that the goal of this trial “is to evaluate the speed and convenience that contactless payments can provide to New York's busy commuters and to test the consumer experience.”