Amazon.in partners Yes Bank to expand its seller lending program

Amazon.in today announced the expansion of its Seller Lending Program through a strategic partnership with YES BANK, India’s fifth largest private sector bank. The partnership aims to develop synergistic solutions for Micro, Small & Medium Enterprises (MSMEs) and SMEs across the country. YES BANK will help sellers on Amazon.in to profitably grow their business during the festive season by providing them comprehensive financial solutions ranging from current account, trade services, forex, payment gateway, business lending and loan products. Under the ambit of this program, YES BANK has already commenced relationships with hundreds of sellers on Amazon India with lending lines at various stages of disbursement.

This partnership marks the beginning of YES BANK as the primary corporate banker to Amazon India and will see the development of customized solutions for sellers of different scale & size on Amazon.in. Sellers will have digital access to the payment and lending solutions of YES BANK, ensuring speed in processes as well as personalization. As part of this agreement, Amazon.in sellers benefit by getting additional unsecured financing at competitive rates without much hassle which in turn helps them increase their business on the Amazon portal resulting in a win-win situation for all 3 parties viz. Seller, Amazon India and YES BANK.

Additionally, Amazon India will provide special services and market access to YES BANK’s SME clients enabling thousands of medium and small business owners and start-ups to access millions of loyal customers of Amazon and become part of India’s growth story. 

Talking about the program, Gopal Pillai, Director & GM, Seller Services, Amazon India said, “Through our constant engagement with sellers, we realized that lack of financial expertise can hinder the growth of small businesses as they scale up which can impact their expansion rate. To help sellers make the most of the festive season, we have partnered with YES BANK under our Seller Lending Program to help them catalyse their growth on our platform by offering them a comprehensive suite of financial solutions. We have made the end to end process quick and easy allowing our sellers to focus on their core business while we take care of providing them with hassle-free financial solutions.”