Basware completes Trustpair acquisition to curb fraud

Basware has completed its acquisition of payment fraud prevention company Trustpair, following an agreement announced in August.

Trustpair will continue to operate independently within Basware, keeping its existing platform, customer relationships, contracts and support model. It will also continue to support integrations across ERP, treasury, procure-to-pay and payment platforms. Customers will still be able to use its services whether or not they use Basware.

The acquisition combines Basware's invoice management software with Trustpair's payment verification tools. Together, they are intended to address a gap in finance controls: an invoice may be legitimate and approved, while the supplier bank account linked to it is still fraudulent.

That issue has grown as fraud attempts increasingly target supplier identities and bank details rather than invoices alone. Data cited by Basware from its 2026 Financial Performance Report showed that 1.4% of invoices are flagged for fraud across its broader network, compared with 0.05% at what it described as best-in-class organisations.

The same report found average lifecycle autonomy of 81%, compared with 93% at best-in-class organisations. Basware said the figures show continuing gaps in automation and control for finance teams handling invoice and payment processes.

Control gap

Basware's systems help finance teams determine whether an obligation is authentic, accurate, compliant and approved. Trustpair focuses on whether a supplier is genuine, whether the bank account belongs to that supplier, and whether the payment is going to the intended destination.

The combined model links those checks in one workflow, from invoice approval to payment release. The approach is intended to give finance teams a more complete view of each transaction and reduce the risk of funds being sent to the wrong account.

Basware serves more than 6,500 customers. The longer-term opportunity, it said, includes combining invoice and supplier information spanning 2.5 billion invoices and 20 million suppliers with Trustpair's fraud intelligence.

Trustpair works with more than 600 organisations. Its software is used to automate account validation and monitor payment risks within existing finance systems.

Jason Kurtz, Chief Executive Officer of Basware, said the transaction addresses a weak point in many finance operations.

"Trustpair has built a distinct capability around one of the most important control challenges facing finance teams today. An invoice can be authentic and accurate, but the financial outcome is still wrong if the payment goes to the wrong account. By bringing Basware's invoice lifecycle management capabilities together with Trustpair's payment assurance, we can help customers make that complete financial decision with greater confidence. Since we announced the agreement, customers have told us this is the missing piece they have been waiting for, and that excitement has only grown as we get closer to bringing our capabilities together," Kurtz said.

Independent operation

A central element of the transaction is Trustpair's continued independence within the group. The business will retain its specialist focus and system-agnostic model, a point that may matter to customers running mixed finance software environments who do not want a fraud tool tied to a single software provider.

That positioning also reflects how payment controls are often spread across several systems, including enterprise software, treasury tools and payment platforms. Companies trying to tighten fraud controls typically need products that can operate across those environments rather than replace them.

Baptiste Collot, Co-Founder and Chief Executive Officer of Trustpair, said the market has moved towards treating invoice and payment checks as part of the same control process.

"Since announcing our intent to join forces, the market signal has been overwhelmingly clear: finance leaders recognize you can no longer dissociate the invoice from payment assurance without exposing your business to severe fraud. As payment threats become more sophisticated with AI, fraud prevention must be an active, connected layer across the entire invoice and payment lifecycle. While maintaining our independent, system-agnostic approach, we will tap into Basware's scale, resources, and deep data foundation to innovate faster and continue building on our nine-year legacy of specialist payment assurance," Collot said.