eCommerce has become a fundamental pillar for the entire business and FinTech landscape. Two of the sectors that have registered significant growth in recent years are eCommerce and FinTech. This is due to the accelerated leap towards digital transformation that multiple companies made to stay relevant in the market and connect with their customers. Jason Simon, an expert in both areas, explains how they are changing the digital ecosystem in a positive way.
eCommerce gained greater relevance for brands and retailers. This same trend was experienced by online shoppers, who increased by millions over the last few years. With this in mind, it is essential to bet on the consolidation of digital payments in order to achieve its full integration into commerce.
This task must be done in conjunction with key features that enable customer loyalty. This includes simple authentication for users, a lower demand for technological resources, the existence of a multiple offer of payment methods (cards, transfers, referenced payments, recurring payments, among others) and the consolidation of high-performance anti-fraud tools.
“In this way, it will be possible to create an atmosphere of confidence in e-commerce, beneficial for the country’s growth,” says Simon. “By betting on the development of eCommerce and FinTech, it is possible to consolidate the digital ecosystem and make it a benchmark for different regions of the world.”
In the coming years, it will be key to strengthen the digital payments infrastructure to meet the needs of companies with a virtual presence. Simon says that to achieve the optimal consolidation of eCommerce, it is essential to bet on the easy adoption of digital payments, so that consumers and merchants adapt to new technologies and increase the systems and opportunities offered by the digital market.
In this new movement are tasks such as mobile banking, crowdfunding, cryptocurrencies, predictive models and automated process management. Several countries have taken advantage of technology to grow their financial world. For example, in Mexico, in 2018 alone, around 400 FinTech startups were created and it was stipulated that more than 50% of Mexicans prefer to make payments and transactions online.
“It is necessary to highlight that leveraging technology in the service of finance is not only due to the migration of traditional banking transactions and commerce to the Internet,” Simon points out. “It is also about other services such as personal finance management, product distribution, advice and online credit.”
Internet-based lending deserves a special mention within FinTech, as its growth has been unstoppable worldwide, thanks to its many advantages. The important thing, before betting on a credit of this type, is to consult an online loan comparator that allows you to know in detail what the available options are and who offers the best benefits and interest rates.
A fast personal loan comparator allows you to know which are the best and most reliable loan platforms, their available limit amounts, terms, interest rates and all the requirements for your application, the latter of which are not complex when it comes to online loans. One of the best advantages of FinTech is the automation of processes. In the case of online loans, this can be evidenced and exploited because the response time after the application will range from ten minutes for low amounts up to 24 or 48 hours for larger amounts.
In the coming years, eCommerce is expected to continue to grow at high rates and customer engagement will be increasingly important, as it will be what makes the difference for a consumer to choose one brand or another in an increasingly competitive environment. Having multiple payment methods offers a number of advantages, such as higher sales conversion, customer loyalty and increased recurrence of purchases.