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Frank Monaco

At Tua Financial, we’re a beacon of solutions for over 129 million Americans facing the challenges of managing essential service expenses. Our mission revolves around providing financial relief to individuals and families through our groundbreaking product, TuaPay. We specialize in Dental, Auto Repair and Maintenance, Optometry, and Veterinary services, and we’re committed to expanding into other essential verticals to better serve our community.

Rooted in the values of responsibility and transparency, our core focus is on delivering accessible and manageable financing options. With TuaPay, we’ve designed fixed payment plans that alleviate the burden of unexpected costs while avoiding the pitfalls of accumulating debt associated with credit cards and inadequate Buy Now Pay Later models.

Our innovative approach creates a symbiotic relationship between merchants and consumers. Merchants benefit from attracting and retaining loyal customers who confidently access their services through TuaPay financing. On the consumer side, the assurance of addressing essential expenses without the fear of overwhelming debt brings peace of mind.

Tua Financial envisions a transformed landscape of essential service financing, where ease and financial security are accessible to all. By aligning with our mission, you’re actively contributing to shaping a more secure future for individuals across the nation. Join us on this journey with Tua Financial and TuaPay as we illuminate the path to financial relief, accessibility, and lasting impact in the lives of many.

Tell us about yourself?

My background and previous experiences have been quite diverse, shaped by a combination of personal interests, opportunities, and a deep passion for innovation within the payments industry.

Starting with my academic foundation, I pursued studies that blended technology and business. This laid the groundwork for my fascination with how technology can reshape industries and improve people’s lives. As I progressed in my career, I found myself drawn to roles that allowed me to bridge the gap between cutting-edge technology and real-world applications.

My journey into the payments industry began when a friend introduced me to the world of gift cards. At first, I admit, I was a bit puzzled by the concept, even mistaking it for fancy greeting cards. However, as I delved deeper into the tech specs and possibilities, I became intrigued. I recognized the potential for innovation in this space, and it was an area that aligned with my passion for using technology to simplify and enhance everyday experiences.

This initial encounter set me on a path to work with Stored Value Systems (SVS), a division of Fleetcor. I was tasked with bringing the gift card industry to Canada, which marked my entry into the payments arena. This experience opened my eyes to the complexities and opportunities within the payments landscape.

Over the years, I continued to explore and contribute to the payments industry, taking on roles at InComm and various other ventures. What drives me is the profound impact that payments have on people’s lives. Payments aren’t just transactions; they’re the underpinning of economies, the facilitators of businesses, and the enablers of financial inclusion.

I’ve always been drawn to the idea of building bridges, both metaphorically and literally. Whether it’s forging partnerships, introducing innovative solutions, or connecting different aspects of the payments ecosystem, I’ve found immense satisfaction in creating connections and solutions that have a tangible impact.

In a world where technology is evolving at an unprecedented pace, the payments industry offers a unique blend of innovation, connectivity, and real-world relevance. It’s this dynamic nature, coupled with the potential to make a positive difference in people’s financial lives, that has kept me engaged and passionate about this line of work.

If you could go back in time a year or two, what piece of advice would you give yourself?

If I could go back in time a year or two, the advice I would give myself revolves around the notion of embracing opportunities and challenges as essential elements of growth. I’d emphasize that every experience, whether positive or seemingly negative, contributes to a greater understanding and personal development.

I’d remind myself that the journey to success is built upon a series of connections and learnings, much like the bridges that have shaped my career. It’s important to approach challenges with an open mind, knowing that they offer valuable insights and opportunities for improvement.

Moreover, I’d encourage myself to maintain a sense of innovation and collaboration in everything I do. This mindset, which has guided me through various endeavours, has been the driving force behind my achievements. By staying open to new ideas and working alongside others, I’d emphasize that I can achieve far more than I could alone.

Lastly, I’d remind myself that while technology is a powerful tool, it’s the people and their experiences that truly matter. My interactions, relationships, and impact on others are what define my journey. By keeping this in mind, I can ensure that my actions and decisions resonate positively with those around me.

What problem does your business solve?

At Tua Financial, we tackle a pressing issue that impacts a substantial number of Americans. With more than 129 million individuals struggling to manage out-of-pocket expenses for vital services, we provide a solution that bridges this financial gap. Through our innovative product, TuaPay, we offer clear and manageable financing options for services such as dental care, auto repair and maintenance, optometry, and veterinary services.

Our business addresses the challenge of financial strain that arises when unexpected costs for essential services emerge. Conventional options like credit cards, often accompanied by high interest rates or insufficient Buy Now Pay Later structures, can exacerbate the problem by leading to accumulating debt and financial stress. Our approach entails fixed payment plans that ensure accessibility without the burden of compounded debt, benefiting both consumers and the merchants offering these essential services.

By presenting a platform centred on responsible financing for vital services, we empower individuals to access necessary care without the fear of overwhelming expenses. Our commitment revolves around streamlining the financing process, making essential services more attainable and ultimately contributing to the financial security and well-being of millions.

What is the inspiration behind your business?

The driving force behind our venture, Tua Financial, comes from witnessing the struggles faced by countless individuals across the United States. It’s disheartening to see so many people burdened by the challenge of covering essential service expenses. This propelled us to search for a solution that could offer real relief.

Our motivation stems from wanting to address the financial strain that emerges when unexpected costs for essential services arise. We’ve seen how traditional financing options often lead to mounting debt and financial stress, which only adds to the difficulties. This encouraged us to develop a new approach, one that provides clear and manageable alternatives for services like dental care, auto repair and maintenance, optometry, and veterinary services.

At the core of our efforts is the desire to enhance financial accessibility and security for individuals and families. We want to empower people to access necessary care without the constant worry about affordability. By introducing responsible financing through fixed payment plans, our aim is to create a positive impact in the lives of those who are dealing with these challenges. Our inspiration comes from wanting to create a pathway toward financial relief, improved well-being, and a stronger sense of empowerment when it comes to managing crucial service expenses.

What is your magic sauce?

Our approach, our “magic sauce,” distinctly differentiates us from the competition in a multitude of ways:

  • Tailored to Essential Services: Our unwavering focus centers on essential services, such as dental care, auto repair and maintenance, optometry, and veterinary services. We intimately understand the specific hurdles that individuals and families face when it comes to affording these indispensable needs, allowing us to tailor our solutions directly to those pain points.
  • Fixed Payment Plans with Savings: What truly sets us apart is our provision of fixed payment plans that stand up to the competition. Unlike many other financing options, we offer loans that are up to 30 per cent more affordable than average credit card rates. This translates into tangible savings and a clear, responsible pathway for individuals to access the services they require without the looming weight of accumulating debt.
  • Transparent Merchant Discount Fees: Our dedication to fairness extends to merchant relationships as well. Our merchant discount fees are comparable to those of other payment methods, ensuring that businesses can offer our financing without unnecessary financial burden.
  • Swift Approvals, Peace of Mind: Waiting hours, weeks, or days for approval is a thing of the past. Our approvals take mere seconds, granting customers swift access to the services they need without undue delays. Furthermore, our prequalification solution provides peace of mind to consumers who may be uncertain about their eligibility for funding, offering reassurance and clarity in their decision-making.
  • Empowering Financial Well-Being: We’re not just in the business of transactions; we’re champions of financial well-being. Our program isn’t solely about funding services – it’s designed to uplift credit ratings, guiding individuals toward enhanced financial health while simultaneously facilitating their access to essential services.
  • Collaboration and Positive Impact: Our collaborative model stands as a testament to our commitment to supporting individuals and local businesses alike. By fostering partnerships with community banks and merchants, we’re creating an ecosystem where everyone reaps the rewards of our services.

Our “magic sauce” encompasses a carefully crafted blend of addressing a specific problem, delivering responsible financing options that boast significant savings, and providing swift, confidence-boosting solutions that amplify financial well-being. Through our dedication to transparency, accessibility, and positive change, we’re redefining essential service financing for the better.

What is the plan for the next 5 years? What do you want to achieve?

Over the next five years, our vision at Tua Financial is to solidify our position as a transformative force in the realm of essential service financing. We have a comprehensive plan in place to achieve this vision:

  • Expansion into New Verticals: While we currently focus on dental care, auto repair and maintenance, optometry, and veterinary services, our goal is to expand our reach into additional essential service verticals. This expansion will allow us to extend our impact to a wider range of individuals facing financial barriers.
  • Enhanced Accessibility: We are dedicated to making our financing solutions even more accessible to individuals across the United States. By forming strategic partnerships with a diverse array of merchants and community banks, we aim to ensure that our services are readily available to those who need them most.
  • Technology Advancements: We plan to leverage technological advancements to further streamline and enhance the financing process. Our aim is to offer an even more seamless and user-friendly experience, making it effortless for individuals to access the essential services they require.
  • Positive Financial Impact: Our overarching goal is to bring about a positive financial impact on the lives of millions. We aspire to help individuals and families navigate their essential service expenses without the burden of mounting debt, ultimately contributing to their financial well-being.
  • Industry Leadership: Through innovation, responsible financing, and unwavering dedication to our mission, we aspire to become leaders in the field of essential service financing. We want to set new standards for transparency, accessibility, and affordability within the industry.
  • Community Empowerment: Beyond financial transactions, we envision building a community of empowered individuals who have access to essential services without hesitation. By fostering financial inclusion and security, we seek to create a positive ripple effect in the lives of our customers.

In essence, our vision for the next five years is to create a future where access to essential services is no longer a barrier due to financial constraints. We want to be at the forefront of revolutionizing how individuals approach essential service expenses and, in doing so, contribute to a more inclusive and financially secure society.

What is the biggest challenge you’ve faced so far?

One of the most significant challenges we’ve faced on our journey at Tua Financial has been changing perceptions and traditional mindsets surrounding essential service financing. Our efforts to introduce responsible financing options for crucial services have encountered resistance from individuals who are accustomed to conventional methods like credit cards. Convincing people of the benefits of fixed payment plans that offer savings and transparency has required us to not only present a new solution but also educate and build trust.

Another challenge we’ve navigated is the dynamic regulatory landscape. The financial industry is subject to ever-evolving regulations, which has necessitated our adaptability and agility. We’ve had to ensure that our solutions align with these regulations while continuing to provide our customers with the best possible experience.

Additionally, the process of forming partnerships with merchants and community banks has required careful negotiation and alignment of interests. Balancing the needs of different stakeholders while maintaining our commitment to affordability and transparency has sometimes meant recalibrating our strategies and approaches.

In essence, our journey has been marked by the need to change course and adapt to the challenges we’ve encountered. These obstacles have driven us to refine our messaging, enhance our educational efforts, and forge stronger partnerships. Each challenge has ultimately propelled us to become more innovative, resilient, and aligned with our mission to provide accessible and responsible financing for essential services.

How can people get involved?

We invite individuals, businesses, and organizations who share our passion for improving financial accessibility and enhancing the well-being of communities to get involved with Tua Financial.

  • Merchants and Service Providers: If you offer essential services such as dental care, auto repair and maintenance, optometry, or veterinary services, we encourage you to collaborate with us. By becoming a partner, you can provide your customers with transparent and affordable financing options through our platform, ultimately contributing to their financial ease and your business growth.
  • Community Banks and Financial Institutions: Our mission is fueled by collaboration with community banks and financial institutions. If you’re committed to supporting local communities and empowering individuals through responsible financing, we invite you to explore partnership opportunities with us.
  • Investors and Supporters: If you believe in our vision of making essential services accessible to all and are interested in supporting our growth, we welcome discussions with potential investors and supporters. Your involvement can help us expand our reach and create a more inclusive financial landscape.

Whether you’re a merchant seeking to offer better payment options, a financial institution aligning with our mission, an investor interested in our growth, or an advocate for financial accessibility, we want to hear from you. Reach out to us through our website at or contact us directly to explore how we can collaborate to make a lasting difference in the lives of individuals and communities. Together, we can build a future where essential services are accessible, affordable, and transformative.