The old system will be fully phased out by 2023.  The old system will be fully phased out by 2023.  View Full Caption

DNAinfo/Gwynne Hogan

NEW YORK CITY — The MetroCard is about to expire.

The MTA will roll out a “contactless” payment system while phasing out MetroCards starting in 2019, agency officials said at a Monday board meeting. 

The transit authority is expected to sign a $540 million contract with California-based Cubic Transportation Systems, Inc. to have electronic payments up and running at 500 turnstiles and in 600 buses by 2019.

The electronic system will allow riders to pay for fares with a mobile app, a digital wallet, “contactless” bank cards or an MTA-issued “contactless card,” according


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