JD Duarte explains changes in the digital ecosystem through FinTech and eCommerce

e-commerce is a key pillar in the entire FinTech and business landscape. eCommerce and FinTech are two of the most important sectors that have seen significant growth in recent times. Many companies have taken a rapid leap to digital transformation to remain relevant in the market and to connect with customers. JD Duarte, an eCommerce and FinTech expert, discusses how they are changing digital ecosystems in a positive way.

Brands and retailers have become more aware of e-commerce. Online shoppers also saw this trend, with their numbers increasing by millions in recent years. This is why it is important to rely on the consolidation of digital payments to fully integrate with commerce.

This task should be completed in conjunction with key features that allow customers to remain loyal. This includes user authentication that is simple, lower demand on technology resources, more payment options (cards, transfers and referred payments), as well as the consolidation of high-performance anti-fraud tools.

Duarte says, In this way, it will be possible for the country to create an environment of trust in e-commerce, which will be beneficial for growth. By investing in the development of e-commerce and FinTech, it is possible to consolidate and make the digital ecosystem a benchmark for other regions around the world.

It will be crucial to improve the digital payment infrastructure in the future to meet the needs of virtual companies. Duarte states that in order to consolidate e-commerce to its best, it is crucial to ensure that digital payments are easily adopted by consumers and merchants. This will allow them to adapt to new technologies and maximize the opportunities and benefits of the digital market.

This new movement includes tasks such as mobile banking and crowdfunding, predictive modeling, automated process management and cryptocurrencies. Many countries have used technology to expand their financial markets. In Mexico, for example, there were 400 FinTech startups in 2018. It was also determined that over 50% of Mexicans prefer to pay online.

Duarte points out that the use of technology in finance is not only due to the migration to the Internet of traditional banking transactions and commerce. It also includes other services such as personal financial management, product distribution and advice, as well as online credit.

FinTech should pay special attention to internet-based lending, which has seen rapid growth worldwide due to its many advantages. Before betting on this type of credit, it is important to check an online loan comparator to find out all the options and which offer the best interest rates and benefits.

You can quickly compare personal loan platforms to find the most reliable and cost-effective options. It also allows you to view their terms and conditions. Automation is one of FinTech’s biggest advantages. This can be proven and exploited with online loans, as the response time for applications for low amounts will vary from ten minutes to 24 hours or 48 hours for higher amounts.

e-commerce will continue to grow at a rapid pace in the coming years. Customer engagement will become more important as it will make a difference in a customer’s decision to buy from one brand or another in crowded marketplaces. Multiple payment options provide many benefits, including higher sales conversion, customer loyalty and increased repeat business.

About Jose Daniel Duarte

JD Duarte is originally from Heredia, Costa Rica. An entrepreneur and business owner for more than 20 years, he divides his time between his existing business and researching new opportunities to invest in. When not dedicating time to his businesses, he spends time with his supportive wife and two children.