India will be the first geography for Amazon where it has launched such a seller platform. In the US, Amazon lends on its own books.
Amazon India currently has six lenders on the platform - Capital First, Capital Float, Bank of Baroda, Aditya Birla Finance and Yes Bank.
ALSO READ:Does your business need to be on voice assistants? A guide to understanding Amazon Echo & Google Home
While the sellers will get access to this platform through their current seller portal on Amazon, the ecommerce company is also creating a separate lending platform for its lenders, to be called Lender Central, to share seller information and performance updates on a real-time basis.
While Amazon had started its seller lending program in 2016, it only offered one specific loan to a seller from a lender.
While the sellers will get access to this platform through their current seller portal on Amazon, the ecommerce company is also creating a separate lending platform for its lenders, to be called Lender Central, to share seller information and performance updates on a real-time basis.
While Amazon had started its seller lending program in 2016, it only offered one specific loan to a seller from a lender.
MORE:The $800 billion club has just got bigger; Microsoft joins Apple, Amazon & Alphabet
Gopal Pillai, director of seller services for Amazon India, said the lending program has grown 4.5 times since its launch and 150% in the first five months of this year.
Amazon India's seller base has also grown to over three lakh sellers.
Gopal Pillai, director of seller services for Amazon India, said the lending program has grown 4.5 times since its launch and 150% in the first five months of this year.
Amazon India's seller base has also grown to over three lakh sellers.
No comments:
Post a Comment