We've expanded our payment assurance network into Singapore, strengthening payment verification for organizations operating across Asia-Pacific.
As one of the region's leading financial and commercial hubs, Singapore plays a central role in cross-border payments. Extending our verification infrastructure into this market gives multinational organizations greater confidence in the payment data behind every transaction while cementing Eftsure's position as the global leader in payment assurance.
For US organizations, the expansion is an important step in minimizing risk and strengthening efficiency. Many enterprises manage high-volume vendor payments across Asia-Pacific from centralized finance teams, with Singapore serving as a regional hub for trade and commerce. Extending verification into this market gives finance teams consistent control over payments, wherever their vendors are based.
Payment fraud continues to evolve
The expansion comes as organizations continue to face growing payment fraud risks. Business email compromise (BEC) caused nearly US$3.5 billion in reported losses in 2025, making it the FBI Internet Crime Complaint Center's second-largest cybercrime category by financial impact. And, according to a TransUnion report, global companies lost 7.7% of top-line revenue to fraud, a number that was even higher for US companies (9.8%).
The threat continues to grow as AI makes impersonation faster, cheaper, and more convincing. The most recent IC3 report also found that AI-assisted fraud had emerged as a fast-growing threat category, with US$893 million in losses across more than 22,000 complaints.
Karthik Manimozhi, Eftsure's Global President, Growth and Markets, says AI has fundamentally changed the economics of payment fraud.
"AI has made fraud cheap to produce and truth expensive to verify. CFOs are still trying to keep control of payments while contending with synthetic instructions, human error and data scattered across disconnected systems. In a financial hub like Singapore, that pressure compounds with every cross-border transaction."
It's a problem that may be even more acute in Singapore. The Singapore Police Force reported that S$35.3 million had been lost to BEC attacks in 2025, but impersonation fraud is even more dominant. As one of the only categories in which reports increased during 2025, losses related to impersonation scams totaled in the hundreds of millions.
Unlike consumers, corporates in Singapore have very little regulatory safety net: the local Shared Responsibility Framework explicitly excludes them, meaning companies must build their own internal controls.
And, unfortunately, manual controls alone can no longer keep pace, explains Manimozhi.
"Manual checks and callbacks were designed for a world where deception took effort and cost money. Trust now has to sit inside the infrastructure itself, validating payment data before money moves. That is what we provide."
The role of continuous, multi-layered verification
Rather than relying on one-time onboarding checks, Eftsure gives finance teams a continuously verified source of payment data. We verify payment details before money moves and monitor vendor data for changes over time using business identity verification, anomaly detection, and expert analyst review.
The same verification supports every payment workflow, from procure-to-pay and payroll to insurance claims and other high-value disbursements, helping organizations ensure funds reach the intended payee or beneficiary.
The value extends beyond fraud prevention.
"This is a broader operational challenge than fraud risk alone," says Manimozhi. "Verifying the payee, the amount and the timing on every payment also catches the errors and duplicate payments that quietly drain cash and margin. That means embedded trust becomes savings the business can measure."
Supporting global finance operations
Organizations already using Eftsure to verify payments globally can now extend the same controls across vendor networks operating in Singapore.
"Many organizations already operate across vendors in multiple countries, but their verification processes are often fragmented and heavily manual," says Andy Thiss, Eftsure's Senior Vice President and General Manager. "Our launch in Singapore gives finance teams access to the same global payment verification network trusted by thousands of organizations worldwide."
Building a global payment assurance network
Since launching in Australia in 2014, Eftsure became the market leader across Australia and New Zealand before expanding into the United States. In 2025, Eftsure combined with France's Sis ID to extend payment verification across Europe and international vendor networks.
Today, Eftsure operates across Australia, the United States, and France, supports more than 4,000 organizations, and safeguards hundreds of billions of dollars in B2B payments every year. The Singapore launch is the latest step in building a global payment assurance network for multinational finance teams.
"Finance leaders are expected to move faster, even as they tighten their governance and audit controls," says Jon Soldan, Eftsure's Chief Executive Officer. "That depends on confidence in the data behind every payment. Eftsure gives organizations a way to continuously monitor payments at scale, helping reduce payment risk while strengthening the controls that support finance, audit and the wider business."
Learn how payment verification helps organizations reduce payment risk, or request a demonstration to see how Eftsure supports secure payments across global vendor networks.
