Basware, an Invoice Lifecycle Management (ILM) specialist, has finalised its purchase of Trustpair, a payment fraud prevention platform, closing a deal that was first agreed in August.
The transaction pushes Basware’s capabilities beyond the invoice and into the payment stage. The firms note that an invoice may be genuine, correct and properly signed off, yet still be linked to a supplier bank account that has been compromised.
Basware’s role is to confirm that an obligation is authentic, accurate, compliant and authorised. Trustpair adds a further layer of checks, confirming that a supplier is real, that the bank account belongs to that supplier, and that funds reach the intended destination. Combined, the two aim to give finance teams a single, governed view connecting each invoice with the payment that follows it.
Trustpair will keep operating as an independent business, retaining its platform, specialist focus, client relationships, contracts and support services. It will also continue to build and maintain integrations with ERP, treasury, procure-to-pay and payment systems. Clients can still use Trustpair within their current finance setups regardless of whether they are Basware customers, and the open ecosystem approach remains a core part of its strategy.
Basware offers a platform that manages the full accounts payable process across countries, ERP systems and suppliers. The company draws on more than 40 years of experience and serves over 6,500 customers globally, including DHL, Heineken and NBC Universal Media.
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