In the press release about Rapid Finance’s new Rapid Access Mastercard program, which Rapid partnered up with Galileo to bring to SMBs, it mentioned it is a 'prepaid commercial card program'.
It goes on to say, "The Rapid Access Mastercard is a prepaid commercial card program that allows Rapid Finance’s small and medium-sized business (SMB) customers with a line of credit (LOC) in good standing to seamlessly and instantly access their funds, according to the release."
Seems like it's essentially a credit card if a merchant can use it for any purpose at any time, including at retailers.
But when is the merchant prepaying?
Any thoughts on this?