Basware signs agreement to acquire payment fraud prevention firm Trustpair
Basware has signed a binding agreement to acquire Trustpair, a supplier verification and payment fraud prevention platform. The deal is expected to complete later in 2026.
Basware has signed a binding agreement to acquire Trustpair, a platform that verifies supplier identities and bank accounts. Basware expects the deal to complete later in 2026. The company says the purchase adds payment fraud checks to its invoice controls.
Basware and Trustpair’s shareholders announced the agreement in Paris on August 26, 2026. The proposed acquisition is subject to customary closing conditions. Basware plans to combine its invoice controls with Trustpair’s supplier and payment checks.
The control gap
Jason Kurtz, CEO of Basware, says the fraud threat has shifted from invoices to payments. In his account, AI lets fraudsters impersonate suppliers, manipulate bank details and falsify communications. An approved invoice can then still lead to a payment to the wrong account.
Kurtz also points to tighter rules. He says Nacha’s 2026 rules require US businesses moving money by ACH to run documented, risk-based fraud checks. He says UK, EU and ANZ rules now require banks to confirm a payee’s name matches their account. He adds that France’s Sapin II law demands documented, risk-based checks on suppliers.
“A perfectly approved invoice, and a payment that still went to the wrong place. I’ve seen it happen more than once.”
Jason Kurtz, CEO of Basware
Why Trustpair
According to Basware, Trustpair secures payments for more than 600 organizations. It verifies over 10 million supplier-bank relationships across 190 countries. Trustpair reports a zero-fraud track record spanning nearly a decade.
Basware says the two companies already share customers, including Valmet and Danone. Kurtz says a partnership or an in-house build could only go part of the way.
What Basware plans
Basware describes its own role as invoice integrity: whether the obligation is authentic, accurate, compliant and approved. Trustpair covers supplier and payment integrity. That means checking that the supplier is genuine, the account belongs to that supplier, and the payment reaches the intended destination.
Basware says it wants to connect invoice, supplier and payment checks in one lifecycle. The company expects this to replace manual reviews with automated checks and to standardize controls across regions.
After completion, Trustpair will continue to operate and go to market independently as a Basware company. Basware says Trustpair customers will not need to change providers or systems.
The fraud figures
Basware cites the Association of Certified Fraud Examiners. According to that body, 75% of anti-fraud professionals report a rise in generative AI document fraud and forgery over the past two years. Only 7% say their organization is more than moderately prepared to prevent it.