Chase and Visa Help Support New Yorkers with Tap to Ride

Rhea-AI Summary

Chase and Visa are partnering to support local nonprofit New York Cares. Starting today and running through September, every tap of a Chase Visa contactless card on MTA subways and buses will result in a 10-cent donation, up to $250,000. This initiative aims to aid New Yorkers in recovery post-pandemic. Contactless payment usage on MTA has surged by over 225% since January 2021, reflecting growing demand for convenient payment methods. Chase has issued over 50 million contactless cards, with tap transactions increasing by 126% in 2021.

Positive

• Donation of up to $250,000 to New York Cares to support community recovery.
• Over 225% increase in tap-to-pay usage on MTA since January 2021.
• Chase has issued more than 50 million contactless cards, reflecting strong customer adoption.

Negative

• None.

Each time customers tap their Chase Visa contactless cards on MTA subways and buses, the companies will donate to local nonprofit New York Cares, up to a total of $250,000

NEW YORK--(BUSINESS WIRE)-- Chase (NYSE: JPM) and Visa (NYSE: V) have announced that starting today and through September, when riders tap on MTA subways or buses with a Chase Visa contactless card, they will donate 10 cents per tap, up to $250,000, to local nonprofit New York Cares.¹

Tap to Pay is Here to Stay (Graphic: Business Wire)

Whether a resident or visitor to New York City, tapping to ride is a quick, easy and secure way to get around New York. Now, riders who tap with their Chase Visa contactless card can also give back to local nonprofit New York Cares, the largest volunteer network in the city, which has been vital in supporting the local community throughout the challenges of the pandemic.

Visa’s Future of Urban Mobility study found that 88% of surveyed riders globally expect contactless payment options on transit². Today, tap-to-pay usage on MTA public transport is up more than 225% since the start of the year³. Riders who are comfortable returning to subways and buses can get around by simply tapping their Chase Visa contactless cards - no standing in line to purchase or load a separate MetroCard® required.

Legendary running back, Saquon Barkley, is joining the effort to give back to New York Cares by tapping to pay on the MTA with his Chase Visa contactless card.

“One of the things I’ve missed most about riding the subway in New York is the connection with my community—whether it be meeting fans, watching musicians perform on the platforms, or seeing new art in the stations—it’s those unexpected moments that make the experience standout,” said Saquon Barkley. “As we start returning to the subway, I’ll be tapping my Chase Visa card to ride, and to support New York’s recovery, because Chase and Visa will donate to New York Cares.”

“The pandemic has taught us that we are all in this together, and New York Cares has done a phenomenal job of enabling New Yorkers to help each other out. We are proud to support their work,” said Rory Wilson, vice president of marketing strategy for contactless payments at Chase. “Chase has issued more than 50 million contactless debit and credit cards to customers and tapping to pay has emerged as one of the fastest growing trends in the payments industry. Chase saw a significant increase in customers who use tap to pay and tap transaction volume has grown 126% in 2021. Since Chase launched contactless cards, customers have made more than 1.2 billion tap to pay transactions.”

Contactless payments continue to gain popularity around the globe, with more consumers looking for experiences where they can tap to pay. Today, the United States has surpassed 370 million tap-to-pay-enabled Visa cards⁴, and now has three cities where 25% of in person Visa payments are made with a tap⁵, one of them being New York which is nearing 30%.⁶

“The popularity of contactless payment options has been on the rise for a long time, and as cities and transit operators continue to navigate pandemic-related challenges, riders expect tap to ride to be a regular part of their daily commute,” said Mary Ann Reilly, SVP and Head of North America Marketing, Visa. “Together with Chase, we’re proud to support New York Cares, who have helped volunteers distribute 44 million meals, and serve more than 261,000 hours since the beginning of the pandemic in March 2020.”

“We are honored that Chase and Visa have chosen to support New York Cares and give back to the community at a time when the city and its residents really need it,” said Gary Bagley, Executive Director of New York Cares. “Since the beginning of the pandemic, New York Cares volunteers have given back on the ground in a safe and contact-free way. Tapping to ride on the MTA allows for a more seamless and touch-free experience, something that we at New York Cares feel is important in helping people return to riding safely.”

Riders using MTA subways and buses can use a Chase Visa contactless card with the same trust and security as any other payment processed on Visa’s global payment network. Chase, Visa, and the MTA are committed to getting New Yorkers back on transit safely.

About Chase

Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading global financial services firm with assets of $3.7 trillion and operations worldwide. Chase serves more than 60 million American households with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing. Customers can choose how and where they want to bank: More than 4,800 branches in 48 states and the District of Columbia, 16,000 ATMs, mobile, online and by phone. For more information, go to chase.com.

About New York Cares

New York Cares is the largest volunteer network in the city. Last year, 52,000 New Yorkers made the city a better place by volunteering in New York Cares programs at over 1,100 nonprofits and schools – improving education, meeting immediate needs, and revitalizing public spaces. For more information, visit newyorkcares.org.

About Visa Inc.

Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit About Visa, visa.com/blog and @VisaNews.

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¹ Visa and Chase will donate $.10 per qualifying Chase Visa contactless card transaction (excluding mobile wallet transactions) made for a single ride fare with the MTA within NYC, up to a maximum donation of $250,000. Ends 9/30/2021 or when maximum donation amount is reached. For more info about New York Cares: https://www.newyorkcares.org/
² Visa “Future of Urban Mobility” survey: June 2021 (conducted by Wakefield Research among 9,000 adults who take public transportation in nine markets: US, Singapore, Australia, Canada, UK, Mexico, S. Africa, Italy and France)
³ Metropolitan Transportation Authority Data, July 2021
⁴ Visa Data 2021
⁵ Visa Data 2021
⁶ Visa Data 2021

View source version on businesswire.com: https://www.businesswire.com/news/home/20210830005082/en/

Caylah Novak

cnovak@visa.com

831-431-3454

Source: Visa Inc.

FAQ

What is the donation initiative by Chase and Visa for New York Cares?

Chase and Visa will donate 10 cents per tap of a Chase Visa contactless card on MTA subways and buses, totaling up to $250,000.

How long will the Chase and Visa tap-to-ride donation last?

The donation initiative runs through September or until the maximum donation amount of $250,000 is reached.

What has been the impact of contactless payments on MTA usage?

Tap-to-pay usage on MTA public transport has surged over 225% since the beginning of 2021.

How many contactless cards has Chase issued?

Chase has issued more than 50 million contactless debit and credit cards.

How has Chase's tap transaction volume changed in 2021?

Chase's tap transaction volume has increased by 126% in 2021.