New MTA Payment: Convenience vs. Credit Card Security

In the past year, the MTA has been trying out a new method of payment for the New York City subway and bus system. Instead of buying an extra MTA card, commuters could use their swipe-less credit cards for subway fare. When they started testing the new payment method last year, MTA and city officials claimed that paying by touch-and-go credit cards would make subway stations more efficient and cut down on commute time, but I think that by implementing this change right now will actually cause new problems and could put commuters' credit card information at risk.

In the past year, there have been numerous stories about how the technology for RFID chip credit cards like MasterCard's PayPass has not been perfected. It is easy for credit card thieves to grab a card's information just by putting a credit card reader in their pocket and then bumping into a card owner. For the sake of convenience, consumers are putting their personal information at higher risk.

Consumers should also keep in mind how easy it was for criminals to rig ATMs to steal card information. They put their own card scanner over top of the ATM's scanner, and even if a customer suspects that something is wrong with the machine after they swipe their card, the criminal still has their information. How much easier would it be to install a fake credit card touch pad at subway stations or tamper with the touch pads to steal commuter's information?

The MTA is providing another method for commuters who don't have a swipe-less credit cards or just want to keep a separate MTA card, but even these cards are undergoing some changes. These will also be swipe-less cards like the New Jersey PATH cards or London's Oyster cards, but the MTA will encourage commuters to link their MTA card to a credit or debit card so that they won't have to spend time refilling their card at the station. I'm all for moving to swipe-less MTA cards, but I would feel uncomfortable linking my MTA card to my credit card. If I lost a card before that had $10 on it, I would only be out $10. If my MTA card is lost or stolen and it is linked to my debit or credit card, the consequences could be much worse.

How do you feel about the MTA's payment changes? Do you prefer the old cards, or do you think the changes will make commutes easier? Leave a comment below, and let us know what you think!

To learn more about responsible credit card use and protecting your personal information, check out http://blog.mycreditspecialist.com, and go to http://www.mycreditspecialist.com to sign up for a free credit evaluation today!