BofA Jumps on Tap-to-Pay Bandwagon as NYC’s Subway Moves Forward

Bank of America Corp. is joining the wave of companies issuing tap-to-pay cards.

The lender will send 4 million contactless cards this month to customers in New York, Boston and San Francisco who have Visa debit or credit cards, according to Mark Monaco, enterprise payments executive at Bank of America. It plans to measure usage in those markets before deciding on a broader rollout at the beginning of next year, he said.

The bank’s strategy is to “do it in these three markets to get a sense of adoption and experience,” Monaco said in a telephone interview from New York. ...