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 Metropolitan Transit Authority will stop selling and refilling those formerly-ubiquitous MetroCards by the end of the year in favor of the OMNY system, MTA Chair and CEO Janno Lieber told Crain’s New York Business Wednesday.

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.