Basware buys Trustpair to add payment-fraud checks

Basware, the Finland-based provider of purchase-to-pay software and e-invoicing services, has acquired Trustpair, a payment fraud prevention platform. The deal brings supplier identity and bank account verification technology into Basware’s procure-to-pay and payments portfolio.

Basware plans to integrate Trustpair’s verification engines and workflow capabilities into its network and cloud services so supplier onboarding, change-of-banking alerts and periodic account reconciliations can be handled where customers process invoices and make payments. Trustpair will be incorporated into Basware’s accounts payable automation and payment services.

The companies did not disclose financial terms. Basware confirmed the acquisition will be followed by a phased rollout of Trustpair features, with initial availability focused on markets where Basware already operates and where supplier identity verification is a regulatory or operational priority.

Trustpair’s software validates supplier identity and verifies bank account ownership by matching supplier records against official registries and bank data to spot inconsistencies that can indicate fraud or administrative error. The technology includes automated reconciliation and alerts for changes to supplier bank account information.

Basware and Trustpair state the combined capabilities are intended to detect and prevent fraudulent payments before funds leave a company and to reduce manual reconciliation work by finance teams. The firms said the integration will connect those checks with Basware’s invoice capture, invoice-to-pay automation and payment orchestration.

Industry observers have pointed to a growing need for integrated fraud controls as organizations automate payment flows and increase volumes of electronic transfers.

Basware is known for cloud-based purchase-to-pay solutions, an e-invoicing network and payment services used by large enterprises and public-sector organizations. Trustpair operates as a vendor-risk and payment-fraud prevention specialist offering automated reconciliation, supplier onboarding checks and alerts for bank account changes.