The technological transformation, such as online payments, is key to the development and growth of businesses. Its constant evolution impacts practically all industries and has given way to more companies applying solutions such as artificial intelligence (AI) in their operations to help improve interaction with their consumers, facilitate a much more satisfactory and personalized experience and, most importantly, Importantly, renew or redesign business processes that adapt to new business models, simplifying complex tasks.
With the boom of the AI solutions available today, the process of deciding which technologies and platforms are most ad hoc for business becomes more complex. Throughout my experience serving the financial services and online payments industry for companies of all sizes, I have managed to identify the positive impact of technology on business, not only in the digitalization of payments, but also in the operation and Relationship with customers.
The impact of online payments and other technologies
Therefore, on this occasion I share some of the technologies that are redefining the way we innovate in business:
1. Diversity of payment methods to improve the shopping experience
Even though physical stores maintain a predominant place in connecting consumers with brands, omnichannel today plays an essential role in opening opportunities for growth, or even interaction between businesses and people through the channels that best suit them. According to our study of “Interest-Free Monthly Purchases 2022”commissioned to the Mandarina agency, 60% of consumers surveyed prefer online shopping, while 70% of stores offer an e-commerce option. In line with this trend, small and medium-sized businesses need to integrate new payment platforms that facilitate purchases on websitesapplications or social networks, and that offer a quick, easy and secure option that responds to the comfort that users are looking for and their new consumption habits.
2. More agile and precise communication tools
Communication with consumers is a key point for the success of any business, since it contributes to customer loyalty and allows us to achieve true knowledge of their needs and preferences. Although email is a reliable and digital communication channel, it does not provide the agility or immediacy that people are looking for today. According to a Capterra study, 76% of consumers surveyed believe that the main advantage of a chatbot is that it is available at any time, every day.
Sales support tool
Thus, this technology has become an extremely useful tool to provide customer service or assistance in the sales process, removing the barriers of personnel availability 24/7 and regardless of the schedule. Another advantage of these solutions is that this type of software has the ability to interact with users, simulating a human conversation that allows questions or problems to be resolved.
3. Mobile applications
Businesses today need to understand that in order to provide an ideal online shopping experience for their consumers, having a mobile-optimized website is no longer enough. According to Mobile market analysis 2023 From Rocket Lab, Mexico is among the markets with the highest number of hours of daily application use, with 4.48 hours on average per user. Today’s consumers use applications for everything, since in them they can concentrate what they need to make a purchase or satisfy a need, in addition to having access to benefits such as various payment options, connection to social networks, rewards and special offers, to mention a few.
Apps also provide great benefits to businesses, since they improve performance with consumers, in addition to optimizing resource management. Opting to create your own app is a strategy that will enable companies of all sizes to concentrate their efforts on the same platform that allows them to provide speed, ease and focus their attention on doing business.
4. Training automation
In a world where technology plays an increasingly important role, investing in training tools has become a key competitive advantage for organizations across various industries. The introduction of training applications and tools in the environment of small and medium-sized companies has completely transformed the way in which these organizations can prepare their employees, facilitating access to learning at their own pace and based on their schedules and individual locations. Additionally, by being able to personalize learning needs, each employee can receive a specific content package that meets their needs and level of expertise. This ensures that training is more effective and relevant, resulting in better performance at work and greater impact on the business.
5. Safety everywhere
The aforementioned technologies have a common denominator called security. Without this essential element, business success could be ephemeral. For this reason, companies should consider among their plans to invest in security measures that allow them to keep their clients’ data safe, or partner with companies that already have this component developed. For example, in the field of online payments, there are platforms like PayPal that already have everything necessary to provide security to both businesses and consumers, protecting their financial data and serving as a bridge between them. Furthermore, in our case, we also help consumers not leave a digital footprint on the sites where they make their purchases.
But everything changes
Finally, although we mention some of the technologies that are evolving the way of doing business, this is a universe that changes daily and in which both companies of all sizes and entrepreneurs must remain open to continue learning and innovating in order to find new ways to run your companies and drive their growth. The key is to use technology to our advantage to solve problems, offer products and services and, above all, satisfy consumer needs.
Federico Gomez Schumacher Responsible for designing business strategies, generating key alliances with strategic partners and driving the growth, profitability and positioning of the company as a leader in payment services in Mexico, Brazil and Spanish-speaking countries in Latin America. He has more than 20 years of experience in the digital payments and e-commerce industry.