Amazon Hires Visa Exec to Bolster Merchant Capital Program: Report

By John Adams

Published August 29, 2014, 11:14 a.m. EDT

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Updated October 06, 2016, 12:42 p.m. EDT

1 Min Read

Amazon has hired Visa executive Nick Talwar as general manager of Amazon Lending, according to a report in ReCode.

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Talwar was formerly the senior vice president of North America credit cards for Visa from 2012 to 2014. Amazon Lending makes small loansgenerally a few thousand dollarsto its marketplace sellers. The loans typically have lower rates than credit card interest, and repayment is deducted from sellers' Amazon accounts on a monthly basis.

Amazon did not return a request for comment by deadline. Talwar's LinkedIn profile includes the shift to Amazon.

The hire would suggest Amazon is getting more aggressive with its lending program, which is similar to other payment company-led programs that lend money to businesses, such as Square Capital and PayPal's Working Capital.

Amazon is also encroaching on Square and PayPal by offering Local Register, a mobile acceptance product that carries a discount introductory fee.

Executive Editor, Payments

John Adams is executive editor of payments for American Banker. John interviews top executives in the payments, cryptocurrency and fintech... Read full bio

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