Amazon Adds Walmart Orders, Opening a Wider View of Sellers

Traditionally, lending practices have focused on the sales a platform can observe from a single marketplace. However, the rise of multichannel commerce is expanding the perspective for lenders. A small- to medium-sized business (SMB) may operate various sales channels, such as its own website, Amazon, Walmart, TikTok, and others, while using a shared inventory and workforce.

When a lender is connected to one of these channels, they can observe the sales activity within their system. The merchant, however, treats their business as a single entity.

Amazon announced on Thursday, September 24, that it will enable sellers in the United States to link their Walmart, eBay, Shopify, and TikTok accounts to Seller Central. This will allow them to manage their listings and orders from the Amazon workspace. PYMNTS reported this development.

More than 95% of independent sellers in Amazon’s store sell through multiple channels, and these sellers account for more than 60% of sales within the Amazon store, according to the company. Sellers have the option to connect outside accounts, and access controls ensure that external data does not influence Amazon’s retail choices. Future analytics will integrate traffic, advertising spending, and sales information from the connected channels.

By consolidating a merchant’s activity across several storefronts, a platform can potentially present a different image of the business compared to one based solely on transactions from a single marketplace. This multichannel approach provides underwriters with a more comprehensive view of the business.

Sales-based underwriting has been established for some time. In March, Square announced enhancements to its underwriting models, allowing it to extend credit offers to over 50% more sellers, including seasonal and project-based businesses whose revenue patterns are challenging to assess conventionally. Square attributes its success to its position in the flow of funds, which provides near-real-time business data for its lending models.

Other commerce and payments platforms are also expanding their merchant lending efforts. Block and PayPal are incorporating merchant lending into their payment models, integrating payment data into their credit evaluation processes. Multichannel data adds another layer of information. For example, a merchant might see a decline in Amazon sales while experiencing growth in Shopify and TikTok sales.

A model limited to Amazon transactions would clearly identify the first trend but overlook the second. A consolidated view can indicate whether total revenue is shifting between channels or increasing through a new source of demand.

Inventory data also provides context. Amazon's supply chain operation reports that merchants using both Fulfillment by Amazon and Multichannel Fulfillment have reduced out-of-stock rates by an average of 19% and improved inventory turnover by 12%. For underwriters, factors such as channel concentration, sales volatility, inventory movement, advertising spending, and returns offer insights into the quality and longevity of the revenue supporting a loan.

PYMNTS Intelligence research indicates that SMB sales are already widely distributed across digital channels. On average, digital channels generate 57% of SMB sales. Furthermore, 56% of digital-led SMBs reported revenue growth in 2025, compared to 42% of businesses that primarily relied on physical stores. The PYMNTS Intelligence report "The SMB Growth Engine: How Digital Sales and Customer Tracking Drive Revenue" found that 57% of SMB sales now come from digital channels.

Additionally, "Why Main Street's Digital Survivors Are Pulling Ahead: Four Years of Small Business Data" reported that 48% of businesses using marketplaces experienced increased sales through that channel between January 2022 and February 2026. The PYMNTS Intelligence SMB Growth Monitor also revealed that 50.1% of SMBs have access to some form of financing, with 37.8% considering financing a strategic tool and 31.9% using it for both strategic and essential purposes.

Cross-platform visibility could enable credit limits to reflect revenue generated across the entire business rather than only the volume captured by one marketplace. However, permission is crucial, as it determines which providers can assemble this comprehensive picture and for what purpose. Connecting accounts for order management does not automatically grant permission for credit decisions, and using data from competing platforms raises questions about merchant consent, portability, and permitted usage.

Despite these challenges, the growing multichannel nature of commerce suggests that platforms are increasingly gaining a broader view of merchants' sales activities, which could eventually benefit lenders by providing a larger pool of underwriting activity.