It’s been 20 years since the MetroCard was first introduced in NYC and now that time is quickly coming to an end.

The Metropolitan Transportation Authority’s (MTA) finance committee has taken their first steps to officially retiring the MetroCard and installing technology that’ll allow commuter to tap and go.

On Monday the MTA approved a $573 million contract with Cubic Transportation Systems—the company that created the MetroCard and London’s Oyster card system—to design, install, test and implement a new fare payment system for city subways, buses, Metro-North and Long Island Railroad.

“They’re looking at the most modern technologies available,” MTA Chairman Joe Lhota said Monday. “When I see most people go into Starbucks, I actually pay in cash, but it seems like everybody else does a tap-and-go with their smartphone. That’s going to be the way that you can pay for your fares in the future.”

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In the initial phase, commuters will be able to tap their way using a bank card or smartphone on 500 turnstiles and 600 buses, plus load up their chosen device with money online by 2019.  All of the subway’s turnstiles and busses will be fitted with the new system by fall of 2020. The MTA will issue its own tap card in 2021 for the persons who don’t own smartphones or bank cards.

The devices will help the MTA create a “proof-of-payment” pilot on Select Bus routes by fitting buses with readers at all doors, according to the Daily News.

Under this plan, the MetroCard and its vending machines will fully retire in 2023.