Amazon, Facebook, and Google’s strategies focus on business lending — offering capital to the merchants, small businesses, or enterprises that they often already provide other services to.
Meanwhile, Apple is leaning on its sticky products and loyal customer base to offer consumer lending products like “buy now, pay later” (BNPL) options and credit cards.
Lending could be a lucrative opportunity for big tech, with the global SMB lending market alone estimated to be worth $3.4T by 2022. With extensive amounts of data on merchant business operations and consumer spending, tech giants are well-placed to make inroads with lending products and train algorithms to predict creditworthiness.
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