The MetroCard was introduced in 1993 to enhance the technology of the transit system and eliminate the burden of carrying and collecting tokens.

At the time, the first subway stations were supposed to receive MetroCard-compatible turnstiles before year's end, and buses were scheduled to be retrofitted with MetroCard collection equipment by late 1995.

[16] On June 1, 1993, MTA distributed 3,000 MetroCards in the first major test of the technology for the entire subway and bus systems.

[15] The debut of the MetroCard allowed the MTA to add bonus fare incentives, such as free bus transfers to other buses or subways.

[35] On March 3, 2013, a $1 fee was imposed on new card purchases in-system in order to reduce the number of discarded MetroCards.

The program would start in January 2019, and the New York City allocated $106 million in fiscal year 2019 to subsidize the half-fare MetroCards for at least six months.

[51] Each MetroCard stored value card is assigned a unique, permanent ten-digit serial number when it is manufactured.

The MetroCard system was designed to ensure backward compatibility, which allowed a smooth transition from the blue format to gold.

The SingleRide Ticket (introduced to replace subway tokens and single cash fares) is a piece of paper with a magnetic strip on the front, and with the date and time of purchase stamped on the back.

The Pay-Per Ride MetroCard is accepted on the New York City Subway; MTA express, local, limited, and Select Bus Service buses; and the Staten Island Railway.

The AirTrain JFK costs $8.50 per trip if the passenger enters or leaves at Jamaica or Howard Beach–JFK Airport stations.

[64] As of 2023[update], four types of Unlimited-ride MetroCards are sold: Any Unlimited Ride Card cannot be used at the same subway station or bus route for 18 minutes after it is swiped.

Unlimited rides cannot be applied to non-MTA transit systems such as the PATH or AirTrain JFK; to use these systems that require a value-based fare, riders can load money on their Unlimited Ride MetroCard by selecting "Add Value" when refilling at a MetroCard Vending Machine or at a station booth.

Student MetroCards are allowed on the New York City Subway, non-express MTA buses, and the Staten Island Railway.

Senior citizen MetroCards are received via application[72] or by submitting the application in person with required ID and copies of proof of age at the NYC Transit Customer Service Center at 3 Stone St in lower Manhattan and act as a combination photo ID and MetroCard.

"Autogate" cards are issued to persons with mobility impairments and are accepted at wheelchair doors at selected stations.

Later issues of Senior Citizen and Disability MetroCards are uncolored (all white with black printing on back with photo, gold face remains unchanged) for gender neutral requests.

As of December 31, 2020[update], all subway stations, the Staten Island Railway,[b] and all MTA-operated buses are equipped with OMNY readers.

Children under 44" tall ride for free with fare-paying rider; limit is 3[78] except for NYC Ferry[91] and Express Buses.

[102] Reduced-fare customers were also eligible for the unlimited cap by making 12 trips in a week at $1.35 per ride, for a total cost of $16.20.

[94]: Appendix II Pay-Per-Ride MetroCard and OMNY customers cannot make subway-to-subway transfers by exiting the turnstile and entering again, with two exceptions: Until 2011, an extra out-of-system subway-to-subway transfer was allowed in Long Island City, Queens, between 23rd Street–Ely Avenue/Long Island City–Court Square on the IND Queens Boulevard and Crosstown Lines and 45th Road–Court House Square on the IRT Flushing Line.

The MEMs and MVMs are geared to allow a maximum of 2 transactions per day when payment is made by either credit or debit card.

On July 1, 2006, MTA launched a six-month pilot program to test the new contact-less smart card fare collection system, initially ending on December 31, 2006, but extended until May 31, 2007.

[52] Criminal charges leveled against those using this bent-MetroCard technique have included petit larceny and, in a state law introduced specifically to target swipers in the year 2006, with "unauthorized sale of transportation services."

As early as 2001, however, police and prosecutors began to charge people bending MetroCards to seek free rides (either to sell, or for personal use) with various forms of forgery.

Because a bent MetroCard will not actually appear legitimate to a turnstile computer without further steps to allow the turnstile computer to write that fresh data, this casts doubt on the claim that a bent MetroCard – often cited as evidence in the prosecutions of swipers – actually constitutes a "forged instrument" as defined in New York State law.

Off-the-shelf reader/writers for the standard cards are useless to read from or write to MetroCards without mechanical modification and custom software.

[159] These have included cards with the Statue of Liberty, the New York City bid for the 2012 Summer Olympics, a Solomon R. Guggenheim Museum exhibit, and the Circle Line ferry.

[162][163] The MTA issued MetroCards featuring Mariska Hargitay, the main actor in the TV series Law & Order: Special Victims Unit, in 2024 to celebrate the show's 25th anniversary.

[179] The last promotional Metrocard, collaborating with Instagram, features social media stars "New York Nico", "SubwayTakes" and "Overheard NY" were sold starting on December 9, 2024.