How to launch a new fintech product during a crisis: Lessons from Truevo

Updated: Apr 14

In times of crisis when the whole world is worried about its future, launching a new product and pushing a big marketing campaign might seem irrational and even horrifying. So, it’s no surprise that many fintech companies had opted to postpone any new product launches and marketing campaigns as a result of the ongoing Coronavirus crisis. But not Truevo.

Despite the COVID-19 outbreak, the Malta-based fintech scaleup Truevo decided to move ahead with the launch of its brand-new point-of-sale (POS) solution at the beginning of the year. To learn more about how Truevo has handled the crisis and adapted its product launch strategy to the changing consumer behaviour, we interviewed Elisabeth Beemer, Head of Marketing at Truevo.

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Image source: Truevo

A glimpse into Truevo’s POS launch campaign and positioning strategy

Founded in 2013, Truevo Payments was originally launched as Swish Payments. In 2017, the company rebranded to Truevo Payments in aim to differentiate from the competition and align its brand to the business’s broader vision and values. 3 years on, Truevo has managed to effectively position its brand as an authority in the payments industry and is now looking to further accelerate its growth by broadening its product range and introducing a new POS solution.

According to Elisabeth, the new POS product offering is a big milestone for the company as it opens up the door to a whole new market segment for Truevo.

“The new offering was a big milestone for the business as Truevo had primarily specialised in e-commerce acquiring in the past. The point-of-sale product marked an important step further for us into the card present industry.”

But, as the COVID-19 pandemic evolved, so did Truevo’s POS launch strategy…

The first step of Truevo’s new product release campaign was the creation of all supporting materials and content required for the effective communication and promotion of the product’s key purpose, functionality and user benefits.