Bus

Chicago RTA prepaid MasterCard cuts costs

Posted on November 14, 2013

The Chicago Regional Transportation Authority is offering customers a prepaid Mastercard to purchase transit fares to reduce customer commuting costs and add greater flexibility.

The new RTA Transit Benefit Prepaid MasterCard can be loaded with pre-tax deductions from customers’ paychecks. By using pre-tax dollars, riders save as much as 40% off their commuting costs each year. The new contactless, reloadable prepaid card can be used to purchase transit fares on CTA, Pace, Metra, South Shore, Amtrak and Chicago Water Taxi.

The card features MasterCard contactless technology, which enables customers to tap and go at Ventra Readers to ride CTA and Pace. Customers can also use it to purchase fares at sales windows, ticket vending machines and online purchases.

Because the card is loaded with pre-tax funds, it can only be used for the purchase of transit fares at qualified transit agencies that accept Debit MasterCard.

The new RTA Transit Benefit MasterCard debuted in October. Besides the tax savings to employees, employers also receive tax deductions by offering transit benefits. On average, an employer can save up to 10% in reduced payroll tax savings.

Last year, the RTA sold $42 million in transit fare media, saving them more than $16 million in taxes and giving their employers $3.4 million in tax deductions.

View comments or post a comment on this story. (0 Comments)

More News

Santa Barbara switches bus fleet to renewable diesel

Different from biodiesel, the fuel is refined from a mix of more than 10 different wastes and residues and various vegetable oils.

Biz News: Proterra and MCI deliver vehicles

Calif.'s Royal Coach celebrates its 60th anniversary with a new J4500, while Proterra lands first N.M. electric bus contract.

FTA awards $423M in bus and bus facilities grants

In Fiscal Year 2019, FTA has made available more than $12 billion in funding.

ElDorado launches 2 new buses, updates model for 2020

New offerings will be built on Ford Transit and F550 chassis.

Biz News: MCI, BYD deliver buses, Byk-Rak signs distribution deal

Vehicle deliveries in Nashville and Colombia, as well as the addition of a new bike rack, highlight the week. 

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation