Basware acquires Trustpair to enhance payment security

By Divya Shah

Basware, a provider of invoice lifecycle management (ILM) solutions, completed the acquisition of Trustpair, a payment fraud prevention platform, following the agreement announced in August. 

The acquisition expanded Basware’s capabilities beyond invoice validation and approval to include payment assurance. 

Trustpair continued to operate independently after the acquisition, maintaining its platform, customer relationships, contracts and support services. The company also retained its open ecosystem approach, supporting integrations with enterprise resource planning (ERP), treasury, procure-to-pay and payment platforms. 

Jason Kurtz, CEO of Basware, said the acquisition addressed a critical gap between invoice validation and payment execution. He noted that customer feedback had highlighted the need for a unified approach that combined invoice lifecycle management with payment assurance to increase confidence in financial decisions. 

The combination of the two companies connected invoice assurance with payment verification. Basware’s platform established whether an invoice was authentic, compliant, accurate and approved, while Trustpair’s technology verified supplier identities, validated bank account ownership and confirmed that payments were directed to the intended recipients. 

The acquisition came as payment fraud increasingly targeted supplier identities and banking information rather than invoice documents themselves. By integrating Trustpair’s payment assurance capabilities with Basware’s invoice management platform, organisations gained stronger controls throughout the invoice-to-payment process. 

Baptiste Collot, co-founder and CEO at Trustpair, said, “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.” 

Together, the companies aimed to provide a unified approach to financial integrity, enabling organisations to establish trust in supplier data, continuously monitor changes and validate payment information before funds were released.