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Near Field Communication and all contactless technology

In about two weeks, Transport for London expects to record its one-millionth ride paid for by contactless bank cards, and the authority says it’s on track to hit its deadline for launching open-loop fare collection on the rest of its transit network, including the busy London Underground, by the end of the year.

Transport for London officially announced the launch of the first phase of its open-loop payment service, allowing riders to tap their contactless credit, debit and charge cards to pay fares on more than 8,000 buses.

Transport for London plans to begin allowing riders to use contactless bank cards to pay fares on buses later this week, according to a report.

Chicago transit officials unveiled their planned open-loop fare-collection system, called Ventra, with plans to enable riders to tap to pay fares with contactless credit and debit cards, as well as reloadable MasterCard-branded prepaid cards.

Transport for London has confirmed it will miss its deadline for accepting open-loop credit and debit card payments on London buses in time for the start of the Summer Olympics.

Open-loop payment of transit fares continued to gain momentum with transit authorities in two large U.S. cities giving the green light to contract awards that will eventually enable riders to pay their fares directly with contactless bank cards and NFC phones.

FirstGroup, which bills itself as the largest bus and rail operator in the United Kingdom, is following Transport for London's lead in planning to accept bank cards, as well as NFC phones, directly to pay fares.

With Transport for London’s recent announcement confirming it would be the first big transit authority to accept bank cards for bus and metro fares, momentum continues to build for other large transit authorities to go to open-loop payment.

Transport for London has made it official, announcing its planned move to accept contactless debit and credit cards for fares on buses in time for the Summer Olympics next year, and on the rest of its transit network by the end of 2012.