System and method for mass transit merchant payment

A system comprising:

• a non-transitory memory communicating with a processor, the non-transitory memory having instructions stored thereon that, in response to execution by the processor, cause the processor to perform operations comprising:
• permitting entry into a transit system by recognition of an identification code associated with a financial transaction account, wherein the identification code is distinct from a transaction account code associated with the financial transaction account;
• associating the identification code with a transit system fee for the transit system;
• and
• requesting payment for the transit system fee from the financial transaction account, wherein the requesting includes transmitting the identification code to a financial transaction account issuer for matching with the transaction account code associated with the financial transaction account for processing and settlement.

A non-transitory, tangible computer readable medium having stored thereon computer executable instructions that, if executed by a computer based system for enabling payment of a transit system fee, cause the computer based system to perform operations comprising:

• permitting, by the computer based system, entry into a transit system by recognition of an identification code associated with a financial transaction account, wherein the identification code is distinct from a transaction account code associated with the financial transaction account;
• associating, by the computer based system, the identification code with a transit system fee for the transit system;
• and
• requesting, by the computer based system, payment for the transit system fee from the financial transaction account, wherein the requesting includes transmitting the identification code to a financial transaction account issuer for matching with the transaction account code associated with the financial transaction account for processing and settlement.