Make it easy and secure to be paid by your customer. When you’ve verified your details once, all eftsure customers will be able to onboard you more efficiently for faster payments.
By verifying your details, you show potential clients that you are helping them solving cybercrime. Businesses benefit from a secure community to keep payments from being defrauded.
Banks don’t match BSBs and Account Numbers to Account Names when making payments.
Cybercriminals often intercept emails between suppliers and their customers (or just email customers directly) and claim the bank details for the supplier have changed (or change it on legitimate invoices). This is often done without your knowledge. As a result, it is possible for hackers, fraudsters or malicious insiders to change the bank details your customers have on file for you to their own, and route payments intended for you to themselves.
In order to protect your revenue, Australian businesses use eftsure software to validate all their suppliers’ bank account details to ensure the details they have on file for you are correct.
This one-off verification ensures that payments made to your organisation indeed reach your bank account verified by eftsure.
Your customer has authorised eftsure to perform a supplier verification on their behalf. This process reaches out to all of your customer’s suppliers, is a procedural request, and is not related to a specific invoice or payment. Should you wish to further validate the legitimacy of this request, contact the account department of your customer directly.
Cybercriminals often intercept emails between suppliers and their customers (or just email customers directly) and claim the bank details for the supplier have changed (or change it on legitimate invoices). This is often done without the Supplier’s knowledge. Banks don’t match Payee Names with BSB and Account Numbers. Sometimes, bank account and BSB numbers can be entered incorrectly, or worse being changed by cybercriminals. This results in delayed, lost or stolen payments.
By verifying your details with eftsure, your customers are being assured your details are correct. This allows them to pay you the right amount.
No – There is no charge for suppliers to be verified by eftsure.
eftsure is a Know Your Payee (KYP) software solution. The cloud-based software solution protects outgoing B2B payments from crime, fraud and error. For more information visit the homepage:
eftsure is Australia’s largest independent network of verified business and bank details. eftsure is safeguarding payments worth over 3 billion AUD per month to 1.5 million Australian businesses. eftsure’s customer base includes some Australia’s largest organisations including 7-eleven, Laing O’ Rourke, Bega, Alfred Health and Griffith University.
Eftsure follows best practice in securing the system and the data it holds. It has been vetted by numerous organisations and is regularly audited and independently tested by specialist external security external experts including (but not limited to) Security In Depth, Pure Security and a major Australian bank.
eftsure’s unique solution is currently the only way to match bank account details with the right business details. This supports businesses from all sizes to protect their vendor payments. If you are interested in becoming a customer, please contact our sales team or request a demonstration.
Eftsure provides continuous control monitoring to protect your eft payments. Our multi-factor verification approach protects your organisation from financial loss due to cybercrime, fraud and error.