Basware Acquires Trustpair to Strengthen Fraud Prevention Offerings

AI summary of the source article

Basware has completed the acquisition of payment fraud prevention platform Trustpair, extending its invoice lifecycle management into payment assurance. While Basware validates invoice authenticity and approval, Trustpair confirms supplier identities and verifies that bank accounts belong to legitimate recipients before funds are disbursed. The combined solution addresses fraud that targets supplier bank details rather than the invoices themselves. Basware confirmed that Trustpair will continue independent operations with its platform, customer relationships, and open ecosystem strategy, allowing clients to use Trustpair regardless of whether they deploy Basware across their ERP, treasury, and payment systems.

Why it matters

Payment fraud increasingly targets supplier identities and bank account details rather than invoices alone. Combining invoice validation with pre-payment verification helps finance teams prevent fraudulent disbursements before funds leave the company.

Key facts

• Basware completed the acquisition of payment fraud prevention platform Trustpair.
• Trustpair will continue independent operations, retaining its existing platform, customer contracts, and integrations.
• Customers can continue deploying Trustpair across their existing finance environments whether or not they use Basware.