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Source: InComm Payments
InComm Payments, a leading payments technology company, today announced that it has partnered with Cuentas, Inc. (Nasdaq: CUEN & CUENW) (“Cuentas”), a leading fintech provider of mobile banking and payment solutions focused on Hispanic and Latino communities, to distribute transit cards (tap and go) at participating retail locations in New York City.
Cuentas, in partnership with InComm Payments and prepaid telecom and digital provider SDI Black 011 (SDI), has integrated with New York City’s new fare payment system to enable retail sales and reloads of transit cards.
Transit smart cards are the newest and easiest way for riders to pay for public transportation. They are currently accepted across all subway stations and on all buses, allowing riders to tap and go throughout New York City.
“Everyone needs a fast and easy way to pay for transit fares and making these cards available at retail locations gives all riders better access to the tap and go system,” said Jeff Johnson, CEO of Cuentas. “Our payments card technology, together with InComm Payments’ transit solutions and SDI’s retail software capabilities, are enabling access in this essential retail channel, with more locations to come online in the coming months.”
“Transit programs like this need retail locations upon which riders can consistently rely,” said Michael Herold, Vice President of Business Development at InComm Payments. “This retail access makes it easy for consumers, especially those who may be cash-preferred, to purchase fares and reload their transit accounts. These local retailers, meanwhile, benefit from the additional foot traffic.”
Riders can simply purchase transit cards at retail and then tap and ride at participating New York City transit stations throughout the region. Once purchased, they can reload their existing card at any of these retail locations or in the Cuentas app. Cuentas customers can also use their Cuentas card and account to reload transit cards directly in the Cuentas app.
Transit cards currently support a full-fare, pay-per-ride option, including free transfers. Additional fare options will be available during future phases of the rollout, including reduced fares, student fares, special programs, and more.
Financial Services
