Visa just rolled out a new program that enables you to pay for the subway with your iPhone. Transit riders in New York and New Jersey can now pay their fare by simply holding their Visa payWave-enabled mobile phone near the designated reader at the fare gate.

Visa is testing two new ways to pay for the subway, they are testing both payment cards and Visa payWave-enabled Smartphone’s.

Till now the Visa payment program is only deployed across 28 stops along the Lexington subway line in New York, but Visa has already been deploying its payWave technology in Kuala Lumpur, Singapore, Paris, Istanbul and London.

Source [FSM]