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The MTA says its new chairman, Jay Walder, would consider a pricing system that would offer riders discounts during late night hours and on weekends.

Riders would use a new, scannable fare card that would charge passengers different prices depending on the time of day. It's a practice already in effect in London, where Walder last worked.

Walder raised the idea in a 2007 speech at City College. He said the goal is not to raise more revenue, but to make the transit system more efficient.

"The basic idea is the same as when we put in the MetroCard system in the 1990s, when we were able to offer free transfers and weekly and monthly unlimited cards, which really increased ridership,” said MTA spokesman Jeremy Soffin. “The idea when we're starting to look at a new fare technology system, is that, is there a way to encourage more ridership of the system and especially in times when the system isn't as crowded as it is in rush hour?"

Governor David Paterson said the idea is worth looking at.

"It's an interesting policy designed to maintain a steady diet of ridership," he said.

Yet mass transit riders had mixed reactions to the idea.

"I guess it would depend on the discount,” said one straphanger. “I’m in the media; I'm always looking for a great discount."

"It wouldn't be of benefit to me. I travel during peak times, so it would have no value,” said another.

"I guess it would appeal to me, but I'm not sure how much more that would drive me,” said a third. “What would the off-peak hours be? I think more and more, things are moving in that direction of flexible commuting, working from home and off-peak hours, so I'd be willing to entertain that."

“I hope it would [encourage more people to travel by mass transit off peak],” said yet another. “I'm not a 100 percent sure, but I believe it would. I mean, why take the taxi when you can take the transit for a cheaper price?"

Some drivers, however, are afraid of losing money.

"Recently, the economic situation is low. So if that goes on, we cab drivers shall lose some customers," said taxi driver Thomas Fringpong.

Any change to the system's pricing structure would have to be approved by the MTA Board, which is now dealing with a possible loss of another $113 million, which was proposed last week by the governor as part of across-the-board cuts to deal with the state's budget deficit.

Walder would not rule out any fare hikes in the future, and any discounted fares would take a few years to implement.

There are a couple-hundred-million dollars included in the MTA to begin developing the switch-over from a swipe card to a smarter, scannable card.