NEW YORK — The Metropolitan Transportation Authority released its public bid for a mobile, contactless ticketing system, however, after it picks a private vendor to install the new fare payment system, the MTA says the system won't be up and running until at least 2021, The Verge reports.

Private vendors have until June 23, 2016 to submit their proposals to the MTA. The agency is allocating at least $10 million for the project, but will likely cost far more than that. The MTA's board of directors said in 2014 that they expected the project to cost $450 million. For the full story, click here.

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