IDEX Online Launches Highly Competitive 'Buy Now Pay Later' Service as Part of IDEX Financing Suite

(Antwerp, Belgium, October 21, 2024) - IDEX Online, a global leader in the B2B diamond industry, is delighted to announce the launch of its Buy Now Pay Later (BNPL) service.

Accredited customers can now secure near-instant financing on diamond purchases via IDEX Online, a market leader in polished diamonds online trading that regularly lists over 75% of global polished diamond supply, thus enabling retailers to hold zero inventories and enjoy easy access to the entire global polished diamonds inventory. 

This new BNPL service offers highly competitive interest rates and flexible credit terms. Getting started is very simple and credit is typically provided within just a few hours*. 

This move follows IDEX Online's major platform upgrade and the launch of the "IDEX Financing" suite of financing services for industry players in March 2024. These initiatives are all designed to provide significant value to various industry players and accelerate the industry's overall digital transformation.

Anish Kuriakose, IDEX Online EMEA Managing Director, said: "Cash flow is, without doubt, one of the biggest problems retailers face. They often struggle with liquidity to finance their purchases prior to selling the finished jewelry goods, primarily driven by traditional banks' reluctance to provide financing for the industry. This new service solves a major pain point for our customers and eliminates a major barrier for an even more rapid transformation of the industry into modern online commerce.

"We, as a market leader in this space, have spent a lot of time designing the right service for our customers - not just in terms of competitive credit rates, but also in terms of flexibility, ease of use and fast customer onboarding. I am overwhelmed by the initial customer reactions we are already receiving. We are enjoying exponential business growth nowadays, and I expect this trend to further accelerate thanks to this initiative and other moves IDEX Online is making. These are definitely exciting times for us!" 

FURTHER INFORMATION

For further details about IDEX Financing please email finance@idexonline.com 

*IDEX Buy Now Pay Later is currently available to clients in Europe, subject to KYC (Know Your Customer) and AML (Anti-Money Laundering) checks.

ABOUT IDEX ONLINE

IDEX offers a unique mixture of legacy and innovation. It offers a trusted diamond online trading service - based on 22 years' expertise of serving our valued customers - and proprietary data and technology applications - aimed at providing transparency, digitalization and efficient financing to multiple industry players.

IDEX Online is the leading online diamond-trading platform for professional diamond traders, located in the main diamond hubs of Antwerp, Mumbai, Ramat Gan and New York. IDEX Online features online, live, natural and lab-grown diamond supply listings with dynamic pricing features and a proprietary and unique online transaction clearing function, GDTâ„¢. 

IDEX is also a leader and innovator in diamond pricing products. The widely used and followed IDEX Diamond Index has been published continuously since 2004 and is the first and oldest index based on actual listing data. IDEX also publishes a widely followed diamond price benchmark and provides traders with online, real-time asking prices research tools.