Amazon hires Visa credit card’s Nick Talwar to expand lending business

Amazon has hired Visa North America credit card boss Nick Talwar to expand Amazon Lending.

 

When the e-commerce giant first set up the lending business three years ago, very little was said about it. There were no press releases or public announcements, and knowledge of it was limited to private invitations sent to a small number of businesses.

 

The hiring of Talwar signifies Amazon's desire to expand Amazon Lending. Although Amazon has not offered a comment on the decision, on Talwar's LinkedIn page he had written that he recently joined Amazon Lending, “leading Amazon’s global expansion into the lending industry.” 

 

Talwar worked at the lending service Prosper before starting at Visa, and has also been in charge of Citibank's consumer banking business in Sweden. 

 

Amazon Lending currently operates in the US and Japan. It works by giving Amazon sellers easy access to capital at better rates than those typically offered on credit cards. 

 

Until now, Amazon Lending has concentrated on lending to businesses, but the introduction of Talwar is a sign that the e-commerce company may be looking to lend to individuals, too.