5 E-commerce and FinTech for 2024

Tech5 E-commerce and FinTech for 2024

It is well known that the use of payment systems and online shopping has grown significantly in just 4 years. We saw what seemed to be fantastic five years ago.

Technologies were keeping up with consumer habits and circumstances. In e-commerce and FinTech, the future is today. Today we tell you our “forecast” about trends in this area for 2024.

What is the Driving Force of Changes in E-commerce and FinTech?

The main driver of these changes is the increase in the number of people who use digital payments. E-commerce boom, payment digitization that makes you check Rates.fm – Money Exchange Rate, mobile innovations, consumer demand for instantness – these are some factors that cause the fact of refusing physical money as a way of payment.

All indicates that over time, these numbers will increase. Although this trend can be considered a disadvantage for businesses, it actually offers many opportunities. If more people use digital payment methods, then businesses will need additional infrastructure to maintain increased demand, which means more investment in this space.

As a result, companies will have to choose between options that allow them to satisfy their customers, consumers, or users.

Areas Where Changes Will Be Held in 2024

EMV Cards Will Become More Common

EMV cards offer to solve cybersecurity issues that create a problem for digital payment methods. EMV comes from the abbreviation “EuroPay, Mastercard, Visa,” which was originally its creator and mainly refers to the technology of smart chips, which is gradually set as a global standard of payment processing in various ways.

Since, for example, only Visa cards are accepted in more than 100 countries, this technology will quickly become popular. For this reason, businesses need to have payment processing methods or tools that allow people to use cards with this technology.

Thus, not only companies don’t stay away, but also consumers feel safer due to the benefits that this technology brings in terms of cybersecurity.

QR Codes Will Also Become More Popular

In recent years, the use of QR codes for various purposes has become popular. In this sense, in connection with the factors we mentioned, the use of QR codes in business operations has become widespread. The process is simple: The code is connected to the bank account, and the person who scans it can directly transfer funds to complete the purchase.

This code can be printed on paper or displayed, and it is very useful for people who put the speed or instant of payments in the first place without neglecting the promptness and security of information. It is desirable for companies to keep in mind that, for this reason, they can increase the value for consumers using a method that is quite easy to implement.

Consumers Will Demand More Digital Payment Methods

As more people around the USA or Europe turn to digital payment methods, businesses will have to adapt accordingly. This is absolutely indispensable for businesses that operate and sell online because they must offer payment options that guarantee their customers security, ease, and efficiency.

As more consumers rely on their smartphones or computers to make purchases, the need for businesses to make their payment methods more flexible is increasing. In addition, they must remain dynamic in order to respond to the demands that naturally prevail in the digital age with regard to payment methods.

Artificial Intelligence is Here to Stay

Artificial intelligence continues to transform the world and e-commerce, changing purchasing habits around the world and affecting the entire online business. E-commerce trends for 2024 indicate that artificial intelligence will continue to grow in e-commerce, increasing the possibilities of personalization and experience of online buyers.

Many companies use generative AI to improve customer service and increase sales, using it to create texts and describe products or articles in blogs, images, or videos. In addition, by collecting all available information (visited goods, dates, profile, etc.), they can provide the user’s needs or influence them at the right time through the perfect message.

The good news is that your company does not need to invest millions of US dollars in technology to integrate artificial intelligence into your online store. There are already several solutions that can be integrated with your e-commerce for several thousand a year and can significantly improve the experience of purchasing your customers and, therefore, your sales.

Improving Shopping Experience

With the advent of new technologies, brands should make sure that they can provide an uninterrupted experience for consumers. The best way to do it is to know your audience, focus on its needs, and offer it a quick and easy purchase process.

Therefore, you have to use artificial intelligence to optimize procurement processes. In this sense, customer service and personalization are important. The first item can be solved with artificial intelligence, but customer service can not be artificial. Communication tools are mandatory for online clients.

Chat, for example, is a tool for direct and rapid contact with a company that allows you to resolve doubts about products or services and thus help improve your customer experience. However, having one person intended for chat is expensive and can create a narrow place in serving several customers.


Over the last decade, payment methods have changed, and every year, they have become more dynamic. Today, artificial intelligence and blockchain are integrated into new payment systems, and these are irreversible changes.

Although it is impossible to predict what will happen in the future, businesses can prepare for changes by monitoring the trends together with Rates. fm in the present. So they will know what to expect and can take the necessary steps to succeed.

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