It works like a debit card. Your parents may foot the bill. And it can get you home on a tipsy Saturday night.

University Cab Cash, an online business based in Florida, is designed to help students pay for their cab rides by using a pre-loaded “cab” card.

“It’s a new way to pay and we think that not only will students enjoy having [the cards], but it will give peace of minds to parents whose students are going off to school,” said Roger Bradley, who works with Yellow Cab of Iowa City.

The Florida company partnered with Yellow Cab of Iowa City, one of the largest cab operators in Iowa, two weeks ago to make the UI the first school in the Big Ten to participate in the program.

UI students may use the wallet-sized card only with Yellow Cab, the company University Cab Cash chose to work with.

Yellow Cab was chosen based on how many cabs it has, its relationship to the university, and its service, said Jason Willoughby, the company’ president.

“It’s better because you are using a single cab company that knows how to provide a better service,” he said, noting the simplicity in paying for the ride with a card.

Working with one cab company ensures drivers understand the system, he said.

University Cab Cash was created three years ago. The card, which works like a debit system and expires after four years, can be purchased online; the card comes in the mail.

“Right now, more parents are buying it for their students,” Willoughby said.

Some UI students said they are eager to start this new program, which they can choose to pay for themselves.

“It’s a good idea,” said UI senior Yuliya Bumar. “I’ll probably look into getting myself a card.”

Card holders can manage their balance online. University Cab Cash sends users e-mails notifying them that their balance is low and inviting them to add more funds online.

If a student’s account is too low, but they still need a cab ride, they’re allowed to charge funds to the card and be billed, Willoughby said.

They don’t want to leave people stranded, he said.

But Bradley said there will be plenty of his cabs around for students to get a ride home. On a typical weekend night, Yellow Cab keeps 16 cabs on duty in Iowa City.

Drivers said they expect to see more of the cards, which carry Yellow Cab’s phone number on the back.

“I like the idea of this card — this just makes it easier and a lot safer for the kids,” said Roman Schoenberger, a driver with Yellow Cab. “It’s a good way for them to get home without them worrying about cash.”

UI sophomore Kailey Arrivo said the new payment method is a smart idea. It means her wallet will be less crammed.

“It’s cool, because we don’t try to bring a lot of money out,” she said.