The transition to the new tap-and-go system for New York City subway and bus riders is expected to save the agency at least $20 million annually, it said.

The MetroCard is officially going the way of the subway token. MTA Chair and CEO Janno Lieber announced on Wednesday that the agency will retire the MetroCard by the end of the year. Sales and distribution of the cards will end on Dec.

The phase out of the old vinyl swipe cards comes after the MTA's rollout of its tap-to-pay fare system faced years of delays.