Amazon has hired Visa's North America credit card head Nick Talwar to run its business providing capital to sellers on its marketplace.
In a move picked up by Re/code, Talwar has joined the e-commerce giant as general manager of the little known Amazon Lending.
Before joining Visa, Talwar was chief revenue officer at P2P lending site Prosper and also spent several years at Citi.
Amazon has been providing capital to sellers and then automatically taking a chunk from their accounts every month for three years.
The service is only live in the US and Japan but according to a brief bio of Talwar on the World Economic Forum site, he will now be "leading Amazon's global expansion into the lending industry".
Amazon isn't the only one hoping to cash in on the tough climate faced by small businesses looking for financing. PayPal and Square have both introduced similar programmes for their sellers as they seek new revenue sources.
CompetitiveNew York City, NY (USA)
© Finextra Research 2014