Australian Fintech Eftsure Launches In Singapore To Extend Payment Verification Network

Australian payment verification company, Eftsure, has launched in Singapore, extending its payment assurance infrastructure into the Asia-Pacific as part of a broader international expansion.

The move gives finance teams operating across the region a continuously verified source of payment data to govern how money moves across domestic and international vendor networks. Singapore functions as a major regional hub for trade and commerce, and many Australian organisations run high-volume vendor payments across the Asia-Pacific from centralised finance functions routed through the city-state.

Eftsure, founded in Sydney in 2014, verifies payment details before money moves and monitors vendor data for changes over time. Its verification combines layered methods including business identity checks, anomaly detection and analyst review, and applies across procure-to-pay, payroll and other payment flows such as insurance claims.

The company’s verification infrastructure now spans more than 190 countries and territories, covering 85 per cent of the world’s banked population.

Fraud costs climbing at home

The Singapore launch comes against a backdrop of rising payment fraud in Australia. Payment redirection scams cost Australians $167 million in 2025, a 9.3 per cent increase on the prior year, according to the ACCC’s Targeting Scams report. Business email compromise remains a persistent threat as AI makes impersonation cheaper and harder to detect.

Eftsure Global President of Growth and Markets, Karthik Manimozhi, pointed to the shifting economics of fraud.

“AI has made fraud cheap to produce and truth expensive to verify,” Manimozhi explained. “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.”

Manimozhi argued that legacy verification methods are no longer fit for purpose.

“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, and that is what we provide.”

He added that the value extends beyond fraud prevention into operational efficiency.

“Verifying the payee, the amount and the timing on every payment also catches the errors and duplicate payments that quietly drain cash and margin, which means embedded trust becomes savings the business can measure.”

Continuous monitoring over one-off checks

Eftsure’s model is built around continuous verification rather than point-in-time checks at vendor onboarding. The platform confirms payment details before funds leave the business and tracks changes to vendor data over time, flagging anomalies before they result in misdirected payments.

Eftsure CEO, Jon Soldan, framed the product around the competing pressures facing finance leaders.

“Finance leaders are expected to move faster, even as they tighten their governance and audit controls. That depends on confidence in the data behind every payment,” Soldan remarked. “Eftsure gives organisations a way to continuously monitor payments at scale, helping reduce payment risk while strengthening the controls that support finance, audit and the wider business.”

Fragmented verification across borders

For organisations with vendors in multiple countries, payment verification processes are often fragmented and manual. Eftsure Senior Vice President and General Manager, Andy Thiss, noted that the Singapore launch brings those teams onto a single verification network.

“Many organisations already operate across vendors in multiple countries, but their verification processes are often fragmented and heavily manual,” Thiss observed. “Our launch in Singapore gives finance teams access to the same global payment verification network trusted by thousands of organisations worldwide.”

A decade of growth from Sydney

The Singapore office caps a decade of expansion for Eftsure. The company has grown from its Sydney base to operate across Australia, New Zealand, the United States and France. It acquired French payment verification firm, Sis ID, in 2025 and launched a global enterprise offering spanning Europe, the US and the Asia-Pacific.

Eftsure has been named to the Australian Financial Review Fast 100 list for three consecutive years, ranking 43rd in 2025. The company now supports more than 4,000 organisations and reports that it safeguards more than A$288 billion in B2B payments each year. Its customer base includes large enterprises, universities and government organisations across Australia and New Zealand.

Australian finance teams can request a demonstration at eftsure.com/en-au/demo.

Last Updated on August 17, 2026 by Nick Ross