e-commerce has revolutionized the economy worldwide, including the use of cash. Today payments through payment gateways have made life easier for millions of people, they have become happy customers thanks to the advancement of technology and development of hundreds of Fintech .

Currently, these Startups have given the push that was needed so that purchasing processes are reliable and achieve payments in a matter of seconds, without customers losing valuable time. There are more than 1,000 Fintech in Latin America that certify it.

Until a few years ago this was not the case. Consumers always preferred cash-on-delivery payments given the level of distrust that existed towards e-commerce, since the era of technology had arrived and not everyone was ready to receive it.

Another trusted payment for customers and consumers who were entering the world of e-commerce was payments with debit cards. credit. Those that provided greater security and confidence, although not certain that their products were what was expected.

New generations such as centennials and millennials have been the ones that have best adapted to these new forms of commerce. However, until a few years ago, the ones who really had the power to make purchasing decisions were their parents, and adapting to a new modality had to be accompanied by this confidence and security.

That the product they were offering was legal and in excellent condition or met their specifications was the clearest demand of the customers. This has changed, for some years now confidence in e-commerce has grown and consumers have clearly benefited from this progress.

It is clear that as e-commerce has grown, it has been shown with greater certainty that it is a new way of marketing that meets the expectations of customers > and as a result of the Covid 19 pandemic consumers have found it necessary to go to this type of business.

An interesting fact is that the World Health Organization at one point determined that the Covid-19 virus could be transmitted through different types of surfaces or forms of contact, which generated a level of mistrust in people when they went to places to make their purchases.

Giving or receiving cash has been another symptom that has generated mistrust among consumers, which has further increased the need to use digital payment methods such as payment gateways payment to avoid contact with the outside world as much as possible.

Consumer preferences

Consumers want us to facilitate their purchase processes. They look for quality and good service, without having to spend a long time selecting products and making payments. They also want you to let them feel that your process is reliable and meets all safety standards.

If you offer them a convenient and fast payment experience, they will return to your store with the guarantee that you have offered them an easy and secure shopping experience. Using a payment gateway that receives and processes different and varied amounts of currencies is what you should have.

Quikipay, for example, is a reliable and secure payment gateway that allows you to offer your customers the possibility of making payments in different types of currencies from Aregntina, Chile and Peru. Carrying out conversion rates and payments in just seconds, protecting your information and that of your customer.

The accelerated process to which the e-commerce has also accelerated the acceptance of different types of currencies worldwide. This is due to the fact that people are leaving cash more and more aside, there are even countries in which the level of circulation of physical money has been reduced by striking percentages.

As is the case of Sweden, where the level of circulation of its currency has fallen from 106 billion kroner in 2010 to 65 billion in 2016, almost half the percentage of circulation in less than a decade. Other countries like Australia and Denmark are also part of this process.

We are clear that at the moment the circulation of cash cannot completely disappear in regions such as Latin America. However, the search for the satisfaction of our customers must be part of our company’s strategies.

Simplifying processes, adapting to changes and facilitating the acquisition of products for our consumers must prevail over any other activity to which our company may be subjected. strong>. Always thinking about the well-being and comfort of our customers.

What can we expect in the future?

e-commerce has evolved satisfactorily for all those who integrate it. It has been a transformation that was not expected to be seen until approximately 2024. However, the level of acceptance has been great.

Until before the Covid 19 pandemic the figures that were expected did not exceed 20% growth and today we can speak of a level of growth that exceeds 40% in the region.

This crisis due to the pandemic only gave the impulse that was needed for consumers to definitively accept e-commerce as a new way of acquiring goods and services, as this situation has also allowed more and more to make known the reliability of the processes through the satisfactory experience of consumers.

This accelerated growth will return to a process of normalization. Maintaining the levels of growth in the same proportion to which they have been subjected up to now.

However, more and more companies will migrate their operations to e-commerce, displacing many activities that generally require cash transactions towards payment methods through the Fintech .

2020 allowed us to visualize the future. A future where economic transactions will be carried out through Fintech and the acceptance of electronic payments and will be normal within society.

It is a near future that we must be prepared for, adapting to the needs of our customers by implementing technological tools in our companies It is the best decision we can currently make.