03 September 2015

Amazon hires Visa's Talwar to lead lending business

29 August 2014  |  5582 views  |  0 Woman figure shopping on top of keyboard

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.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

19 August, 2014
13 August, 2014
22 July, 2014
28 May, 2014
25 September, 2013

Related company news

 

Top topics

Most viewed Most shared
Third of Brits expect day-to-day mobile pa...
8069 views comments | 37 tweets | 15 linkedin
Payments UK sets out vision for 'world cla...
6635 views comments | 17 tweets | 10 linkedin
Swedish mPOS firm iZettle raises EUR60m fo...
6035 views comments | 12 tweets | 8 linkedin
HSBC glitch leaves thousands of customers...
5989 views comments | 13 tweets | 7 linkedin
UK boosts contactless limit to £30
5385 views comments | 31 tweets | 20 linkedin

Featured job

up to £95K base, £190K OTE, benefits
London, UK

Find your next job