“Seeing side hustles evolve into full-blown businesses is a powerful motivating force” – CEO Q&A with David Liu from Truevo

By Business & Finance
27 October 2021

Pictured: David Liu, CEO, Truevo

Truevo is a multinational fintech company that makes online transactions faster, easier and safer, with offices in Ireland. David is passionate about making the lives of entrepreneurs easier, by automating the administrative side of their businesses. Truevo has also just recently launched the Truevo Account, which helps SMEs save on transaction fees while making the transition to doing business online more secure.

What are your main priorities and goals in your role?

My priority is to keep my team focused on our mission, which is to save time for the entrepreneurs who have partnered with us. 

What are your biggest challenges as CEO?

Finding the right people who believe in our mission and are eager to serve our customers and make a difference.

What are the challenges facing the industry going forward?

Bringing to market ideas that make payment as seamless and convenient as possible for consumers. Many of the incumbent players in the industry resist change or are too slow to change but I hope that consumers’ demand will drive many changes going forward.

What new trends are emerging in your industry?

The methods and manner in which we make payments is getting easier. So, things like Apple Pay and Google Pay make it increasingly unnecessary to carry a card and wallet around. I’m enjoying the rise of social commerce too – buying directly from Instagram is effortless. 

Are there any major changes you would like to see in your sector?

More direct access to the core financial networks like Target2, SEPA for fintechs, payment institutions and EMIs.

As an employer are you finding any skill gaps in the market?

Yes, talent is always in short supply. With the increase in remote work now everyone can work for any company anywhere in the world and are no longer bound to the geography that they are in. 

How did your strategy develop in the context of the banking crisis and economic crisis?

It provided us with the opportunity to further build trust in our brand. It is very important to us to be honest and open with our customers and present them with a company that is trusted and that they can rely on. With the hard work from our amazing team we were able to do this successfully and even build new teams around the world.

How has Brexit affected you?

We are a regulated business so with Brexit, we had to apply for an additional license in the UK in order to maintain our services in the UK. We’ve taken all the measures we can to make this as smooth a transition as possible for our staff and our customers. 

How has the COVID-19 crisis affected your business/sector?

Covid-19 enabled us to build new teams across the globe and foster a thriving remote working culture. In terms of e-commerce, the boom worldwide was unprecedented and certainly welcomed by the sector. It’s an exciting time to be in e-commerce, and to provide services that are so specifically helpful for businesses transitioning to online sales. 

What drives you to succeed?

The desire to make a difference. Seeing side hustles evolve into full-blown businesses is a powerful motivating force.

What have been your highlights in business over the past year?

The exponential growth in our e-commerce volume. Seeing how resilient and ingenious our customers are in adapting to selling online is just incredible.

What’s next for your company?

We’re excited about the future! Truevo is becoming the go-to payment solution for small businesses and entrepreneurs. Simply, we have the right tools to support and serve them better than other businesses can. Enabling our customers to thrive would mean we’ve made a successful difference.