Transport Minister Mark Bailey was unable to outline when the ticketing system would be in place for passengers to use but said it would be developed in the"coming years".
"The roll-out schedule will depend on development by Cubic,so at this stage I don't have a specific timeline,"he said.
Mr Walker said there would be a progressive roll-out over about four years.
Treasurer Jackie Trad last week suggested the new system may allow"mass purchases of rides",but Mr Bailey was yet to commit to the return of weekly and monthly tickets.
"That's something that will be considered in the design of the new system,"he said.
The system will also be in place in regional areas,including Cairns,Townsville,Airlie Beach and Proserpine,Mackay,Rockhampton,North Stradbroke Island,Toowoomba,Bundaberg,Maryborough and Warwick.
"This means that for the first time,commuters and tourists in those regional areas will have an integrated ticket - making public transport easier and hopefully helping to boost regional tourism,"Mr Bailey said.
"It will also mean that we will be able to deliver real-time tracking for the first time in regional areas."
Commuters would be able to set up an account via a new app or website,and have the choice of several payment methods,including Go Cards and paper tickets.
But people would be able to use major contactless credit and bank cards without the need to set up an account.
Mr Bailey said the system would have"bank grade security".
RACQ public policy head Rebecca Michael said the new ticketing system would make public transport more convenient and hopefully encourage more people to choose the bus or train when travelling to work.
"The current system requiring a Go Card or paper ticket is quite restrictive and doesn't make things easy for visitors and tourists looking to get around,"she said.
"We're also happy the government has confirmed paper tickets and Go Cards will remain available for those without access to credit cards or smartphones."