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

eCommerce is a key pillar of the entire FinTech and business landscape. eCommerce and FinTech are two of the most important sectors to 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 expert on eCommerce and FinTech, discusses how they are changing digital ecosystems in a positive manner.

Brands and retailers have become more aware of eCommerce. Online shoppers also saw this trend, with their numbers increasing by millions in the past few years. This is why it is important to place your trust in the consolidation of digital payment in order 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 for technology resources, multiple payment options (cards, transfers and referenced payments), as well as the consolidation of high-performance anti-fraud tools.

Duarte says, “In this manner, it will be possible for the country to create an environment of confidence in eCommerce, which will be beneficial for its growth. By betting upon the development of eCommerce and FinTech, it’s possible to consolidate and make the digital ecosystem a benchmark for other regions around the globe.

It will be crucial to improve the digital payment infrastructure in the future to cater to the needs of virtual companies. Duarte states that in order to consolidate eCommerce 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 stipulated that over 50% of Mexicans prefer to pay online.

Duarte points out, ”Leveraging technology in finance is not just due to the migration to the Internet of traditional banking transactions and commerce. It also includes other services like personal finance management, product distribution and advice, as well as online credit"

FinTech should give special attention to internet-based lending, which has seen rapid growth worldwide due to its many benefits. Before you make a bet on this type of credit, it is important to check an online loan comparator to find out all the options and which offers 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 see their terms and conditions. Automation is one of FinTech’s greatest advantages. This can be proven and exploited in the case of online loans, as the response time to an application for low amounts will vary from ten minutes to 24 hours or 48 hours for higher amounts.

eCommerce will continue to grow at a rapid pace in the next few years. Customer engagement will become more important as it will make a difference in a customer’s decision to purchase from one brand or another in crowded marketplaces. Multiple payment options offer many benefits, including higher sales conversion, customer loyalty, and increased recurrence.

About Jose Daniel Duarte

JD Duarte is originally from Heredia, Costa Rica. He has been an entrepreneur and business owner for more than 20 years, and divides his time between his existing operations and researching new possibilities in which to invest. When he’s not dedicating time to his businesses, he spends time with his supporting wife and two children.

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Jose Daniel Duarte

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