Cybercriminals don't respect international borders. In fact, they love that your international payments are made vulnerable by difficult verification processes, different time zones, and language barriers.
That's why we're launching international payment verification across 39 markets including most of Europe, as well as the US and Canada, India, Japan and South Korea.
Why is international payment protection so important right now?
International payments present unique vulnerabilities that domestic fraud prevention systems cannot address. Australian Signals Directorate data reveals that businesses lost $84 million to BEC scams in the year to June 2024, with each impacted business losing an average of $55,000 — a significant jump from $39,000 the previous year.
Eftsure survey data shows that one-third of finance professionals are unsure where to report fraud incidents, indicating that Australian scam losses are likely underreported.
Growing access to AI tools is compounding these risks by making it cheaper and easier for criminals to target legitimate businesses with payment redirection and fake invoice scams.
The low-risk, high-reward nature of these crimes has seen them become established criminal enterprises, especially in developing nations. These risk factors are leaving businesses dangerously exposed to payment fraud, especially when dealing with vendors in overseas markets.
“International payments involve different languages, time zones, payment systems and regulatory environments,” says Eftsure CEO, Jon Soldan.
“That’s why we’re proud to offer international payment verification, giving our clients the same level of financial security when dealing with overseas vendors.”
CFOs agree: international payment verification is a pain point
For a while now, we've heard from customers that international payments are a big pain point for AP teams. We've even heard from some of you that it's not just about fraud risks — it's also about needing easier, more efficient processes for both staff and vendors.
“It’s a real pain trying to verify overseas vendors. Time zones, faceless departments — it’s all manual and slow,” said Lynne Sampson, Group CFO of Positive Real Estate in Australia. “Having a trusted third party like Eftsure step in will save us time and give us real confidence in international payments.”
Eftsure minimizes international payment risks by embedding a proprietary, multi-layered verification process throughout an organization’s payments. We also work with respected partners including the US-based clearing house Nacha and BNP Paribas in Europe.
Given the critical nature of payment protection and the scale of associated risk, we're actively looking to work with organizations that manage business payment processes. A complete list of supported countries is available here.
