IDEX Online has launched a Buy Now Pay Later (BNPL) service aimed at revolutionizing financing options for retailers in the diamond industry. This new service allows accredited customers to secure near-instant financing for diamond purchases, significantly easing cash flow challenges that retailers often face. With the ability to access over 75% of the global polished diamond supply without holding inventory, retailers can now make purchases with flexible credit terms and competitive interest rates. The service is designed to facilitate a seamless onboarding process, with credit typically granted within a few hours. This initiative is part of IDEX Online's broader strategy to enhance its financing suite and support the digital transformation of the diamond industry. Anish Kuriakose, the EMEA Managing Director, emphasized the importance of addressing the liquidity issues retailers encounter, particularly due to traditional banks' hesitance to offer financing. Initial customer feedback has been overwhelmingly positive, indicating strong market demand for such innovative solutions.
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