Online foreign exchange specialist OzForex is branching out, with the launch of a travel money card. The company is working with Macquarie Bank, which is the issuing bank and the program manager.The travel card segment has become a very competitive part of the prepaid card market, as issuers tap into the boom in overseas travel by Australians.OzForex hopes to differentiate the OzForex Prepaid Travel Card (a MasterCard) by offering free reloads. Customers will pay $15 to purchase the card and do the initial load, but they will not have to pay a fee to add extra money to the card.OzForex will charge a four per cent margin over the spot rate on foreign exchange transactions.OzForex chief executive Neil Helm said another distinctive feature of the card was that customers could buy foreign currency whenever they like.With most prepaid travel cards, the customer chooses the foreign currency and the amount when the card is purchased. With the OzForex card, the customer can load Australian dollars and then buy any of the nine currencies offered at any time.The company's website constantly updates conversion rates.OzForex, which has been operating since 1998 and employs 120 people, is owned by its founders, Matt Gilmour and Gary Lord, Macquarie Group and two private equity investors - Carlyle Group and Accel Partners.Macquarie owned 51 per cent but sold down part of its stake to Carlyle and Accel in 2010.