The prepaid card provider TransCard LLC is launching a card for paying cab fares and tips with Taxi on Demand, the company that developed the concept.
Consumers may buy the nonreloadable card from Taxi on Demand's Web site or by calling the Chattanooga, Tenn., company's call center.
Cards are sold in $35, $50, $100 and $200 denominations, said Patrick Konvalinka, TransCard's director of corporate sales.
TransCard, also of Chattanooga, will decline transactions when cardholders attempt to use the card to make another type of purchase. It also charges 50 cents if there are not enough funds in the card account to cover the cost of a cab ride.
"If you try to charge $50 and there is only $35 left on the card, we charge a fee," Konvalinka said. Additional fees include a 35-cent charge to call the call center to find nearby cabs that accept Taxi on Demand.
Card-activation fees vary depending on the denomination purchased, Konvalinka said.
TransCard offers prepaid cards that it says are supported by the Discover Financial Services, MasterCard Inc. and Star network brands.
TransCard says it also offers transaction processing services.
Taxi on Demand is marketing the card to college students to promote safety, Konvalinka said.
"Oftentimes, a college-age student might have a few too many [drinks] at the local watering hole and they might need a safe ride home, and this card can provide that," he said.