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Visa & Chase Come Together To Donate To New York Cares With Their Chase Visa Contactless Card

By John F. Heerdink, Jr.

As per reports, Visa (V) and Chase (JPM) announced that riders on MTA subways or buses, who tap with their Chase Visa contactless card, will donate 10 cents per tap, up to $250,000, to local nonprofit New York Cares, through September 30, 2021 or when maximum donation amount is reached). Local nonprofit New York Cares, the largest volunteer network in the city, has been important in supporting the local community throughout the challenges of the pandemic.

Tap-to-pay usage on MTA public transport has increased up to more than 225% since the start of the year (Metropolitan Transportation Authority Data, July 2021). Tapping to ride is a quick, easy and secure way to get around New York, particularly now during the pandemic. In a survey by Visa’s Future of Urban Mobility study, it was found that 88% of surveyed riders globally expect contactless payment options on transit.

“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. 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,” stated Rory Wilson, vice president of marketing strategy for contactless payments at Chase. 

To learn more about Visa (V)  & JPMorgan Chase & Co. (JPM) and to track their ongoing progress please visit the Vista Partners Visa (V) Coverage Page and  Vista Partners JPMorgan Chase & Co. Coverage Page respectively.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: Chase and Visa Help Support New Yorkers with Tap to Ride in Business Wire)


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