There's a new ride-sharing game in town in New York City. A company called Myle is designed to be a more affordable option for New Yorkers who enjoy using rides from companies like Uber and Lyft to get around the city. Myle officially launched in five boroughs last week with approximately 5,000 drivers already signed up. All Myle drivers are licensed by the city's Taxi and Limousine Commission (TLC).

Myle's big claim is that each ride will cost you about 10 percent less than you'd pay with Uber or Lyft. Myle also promises to never use surge pricing or apply hidden fees to ride charges. Riders who use the service have the option to pick from a variety of different cars when arranging rides. The list of available cars even includes wheelchair-accessible options.

The Myle app allows you to schedule your rides ahead of time. Payment through the Myle app is essentially similar to the processes used by Uber and Lyft. Riders will never need to deal with cash payments. Credit cards attached to rider accounts are only charged once rides are complete. Myle riders can also track drivers before and during trips. That means that riders don't have to guess about how long it will be before they are picked up after requesting their rides.

Will Myle be a hit? There's no denying that the company is stepping foot in a very competitive market. Other companies that have tried to compete against Uber and Lyft haven't exactly thrived. You may remember that eco-friendly Juno shut down in New York City last year after only being able to take over about 3 percent of the ride-sharing market in the city.

Scott Dylan is a contributing writer at and has been to (almost) every country in North, Central and South America with nothing more than a backpack, a laptop and the desire to explore. He speaks Spanish fluently and has logged enough time in planes, trains, rideshares, buses, taxis and rickshaws to know how to rack up rewards and points to get anywhere his heart desires for pennies on the dollar. Email: