Latest news with #Eftsure
Business Wire
02-07-2025
- Business
- Business Wire
Eftsure Now a Nacha Preferred Partner
RESTON, Va.--(BUSINESS WIRE)--Nacha announced that Eftsure, a leader in fraud prevention and payments protection, has joined its growing list of Nacha Preferred Partners. Eftsure is a Preferred Partner for Account Validation, Fraud Monitoring, and Risk and Fraud Prevention. Eftsure is a payments fraud prevention platform designed to protect businesses from payment fraud, errors, and cyber threats by verifying the legitimacy of suppliers and their banking details. Eftsure cross-references payment information in real time, providing intuitive 'traffic light' alerts—green for verified details and red for discrepancies—before funds are released. This system helps prevent issues such as business email compromise (BEC), fake invoices, insider scams, and duplicate payments. Eftsure promotes ACH as the preferred payment method in its platform, which does not support check payments. 'As concerns about fraud—particularly check fraud and credit-push frauds such as BEC—continue to grow, being vigilant is ever more important,' said Jane Larimer, Nacha President and CEO. 'We welcome Eftsure as a Nacha Preferred Partner and as another line of defense in the war on fraud.' 'Cybercrime and scam tactics are evolving rapidly, which is why businesses need collaborative, borderless solutions,' said Jon Soldan, Eftsure CEO. 'Eftsure now offers international payment verification across Europe and the Asia-Pacific (APAC) region. This expansion empowers U.S. companies with a unique capability: ensuring their vendor payments—whether domestic via ACH, wire payments or international—are directed to the correct recipients. Our partnership with Nacha further reinforces the value we deliver to finance teams, particularly in streamlining and securing outbound payments through greater visibility, control, and trust.' Nacha's Preferred Partner Program is open to any technology solution provider whose offerings align with the Nacha strategy of advancing the ACH Network. For more information about the program, visit Nacha's Preferred Partner page. About Nacha Nacha governs the thriving ACH Network, the payment system that drives safe, smart, and fast Direct Deposits and Direct Payments with the capability to reach all U.S. bank and credit union accounts. There were 33.6 billion ACH Network payments made in 2024, valued at $86.2 trillion. Through problem-solving and consensus-building among diverse payment industry stakeholders, Nacha advances innovation and interoperability in the payments system. Nacha develops rules and standards, provides industry solutions, and delivers education, accreditation, and advisory services. About Eftsure Eftsure is the global market leader in payment fraud prevention. Specifically designed for businesses, our end-to-end solution safeguarded more than $288b in B2B payments last year. Powered by cross-matching, we use multi-layered verification methods to give finance and AP teams cleaner data, more control over onboarding vendors, and greater confidence in all outgoing payments, particularly ACH payments. In short, we ensure our customers don't pay the wrong people.
Miami Herald
25-06-2025
- Business
- Miami Herald
Eftsure Closes Strategic Acquisition to Form World's Largest Payment Protection Platform
Global Market Leader in Payment Fraud Prevention Joins Forces With France-Based Sis ID, Where the Combined Entity Will Now Provide Payment Protection in More Markets Around the World SALT LAKE CITY, UTAH / ACCESS Newswire / June 25, 2025 / Eftsure has announced a significant merger with France-based Sis ID. The deal means the combined entity is now providing payment protection in major markets around the world including the United States, Europe, Australia, New Zealand, India, and China. Global payment verification coverage is expected to be achieved later this year. The move follows Eftsure's 2024 expansion into the United States and will see the entity become the world's largest business payment protection platform, enabling organizations to validate more vendors and protect more business payments in more markets around the world. The deal comes at a time when businesses are looking to minimize vulnerabilities in a heightened risk environment, with monthly customer data showing the largest ever volume of known fraud attempts since Eftsure was founded in 2014. The FBI's Internet Crime Complaint Center (IC3) says it recorded nearly $8.5 billion in payment fraud losses between 2022 and 2024. "Fraud tactics are increasingly sophisticated and difficult to detect, with cybercriminals using artificial intelligence tools to produce realistic fake documents and target businesses at scale," Eftsure CEO Jon Soldan said. "Eftsure and Sis ID share the common goal of preventing these fraudsters from getting a payout. Combining our resources means we'll be able to verify more vendors and protect more payments in more markets around the world, all while keeping pace with a rapidly evolving threat landscape." Sis ID CEO Laurent Sarrat said the deal made sense because both organizations were focused on helping businesses build cross-border defenses. "Cybercrime is a global problem and it demands global solutions. Sis ID and Eftsure share a common mission to create collaborative cybercrime solutions that enable business leaders to focus on other priorities," Sarrat said. "Sis ID has been working for years to deliver global coverage and verify as many payments as possible. Together with Eftsure, we're well-positioned to offer guaranteed protection for every payment in every market." The merger brings together more than 20 years' experience of business payment fraud prevention, a customer base of more than 3,500 organizations, and support offices across the United States, Australia and France. This positions the merged entity to service a greater number of large enterprises, especially those that manage global supply chains. "Finding a company so closely aligned in values and vision is rare," Soldan said. "We share the same perspective on fraud prevention, operational excellence, and what the industry needs to progress. We're incredibly excited about our shared future and our commitment to serving customers on a global scale." Eftsure and Sis ID will continue to drive growth and provide exceptional customer support in their respective regions while working to integrate their brands. For any media enquiries, please contact: Gareth Beddoes, Seven Communications 463 248 About Eftsure Founded in 2014, Eftsure is the global market leader in payment fraud prevention. Specifically designed for businesses, our end-to-end solution safeguarded more than $288 billion in B2B payments last year. Powered by cross-checking, we use a variety of verification methods to give businesses greater control over onboarding vendors and making payments, and we back each verified payment with a guarantee. In short, we ensure our customers don't pay the wrong people. About Sis ID Founded in 2016, Sis ID is a French fintech that helps companies detect fraud and attempted fraud both in France and internationally. Created by CFOs and Treasurers from CAC40 companies, Sis ID enables businesses to: Make sure they're paying the right vendor to the correct bank accountDetect and stay ahead of fraud attemptsSecure and keep beneficiary records up to dateStreamline the process from purchase to paymentMinimize financial fraud risks and pay with confidence Contact Information Jessica Lombao Media Advantage Account
