Amazon India Partners with Yes Bank to Expand its Seller Lending Program
Security guards stand at the reception desk of the Amazon India office. (Reuters)
Amazon India today announced the expansion of its Seller Lending Program through a strategic partnership with Yes 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.
This partnership marks the beginning of Yes Bank as the primary corporate banker to Amazon India and will see the development of customised 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 personalisation.
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.
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.
Earlier this year, Amazon.in had launched its Seller Lending Program to enable SMEs to easily access secured & unsecured loans between 5 lakh rupees to INR 2 crores at very competitive interest rates.