Wave Payments
Accounts receivable software
Billing software
Accounting & finance software
- Features
- Ease of use
- Ease of management
- Quality of support
- Affordability
- Market presence
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$19 per business per month
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Free version
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- Agriculture, fishing, and forestry
- Accommodation and food services
- Construction
What is Wave Payments
Wave Payments is an online payment processing service that lets small businesses accept credit card and bank (ACH) payments, typically in conjunction with Wave’s invoicing and accounting tools. It supports getting paid from invoices and payment links, with funds deposited to a connected bank account. The product is primarily used by freelancers and small businesses that want a lightweight way to bill customers and collect payments without deploying a separate enterprise payments stack.
Tight invoicing-to-payment flow
Wave Payments is designed to work directly with Wave invoicing, so customers can pay from an invoice and the payment status updates in the billing workflow. This reduces manual steps compared with using a standalone payment gateway plus separate invoicing. It fits straightforward accounts receivable collection for small teams. It also supports card and ACH options, which covers common SMB payment preferences.
SMB-oriented setup and operations
The product targets small businesses and freelancers, emphasizing a simple onboarding and day-to-day workflow. It avoids the implementation overhead typical of more configurable billing and AR automation platforms. For basic invoicing and collections, this can shorten time to first payment. It is generally suited to low-to-moderate transaction complexity.
Integrated accounting context
When used alongside Wave’s accounting features, payments can be reflected in the same system used for bookkeeping and basic financial reporting. This can reduce reconciliation effort versus exporting payment data from a separate processor. It is useful for businesses that want a single place to track invoices, payments, and customer balances. The integration is most beneficial when Wave is the system of record for accounting.
Limited enterprise AR automation
Wave Payments is not positioned as a full accounts receivable automation suite with advanced collections workflows, dispute management, or configurable dunning. Organizations needing complex approval chains, multi-entity AR, or deep ERP integrations may outgrow it. Reporting and controls are typically lighter than specialized AR automation platforms. It is best suited to simpler receivables processes.
Less flexible billing models
The product is oriented around standard invoicing and payment collection rather than complex subscription billing, usage-based rating, or sophisticated revenue workflows. Businesses with advanced pricing, proration, or multi-product subscription catalogs may need a dedicated billing platform. Customization options are generally narrower than systems built for complex monetization. This can limit fit for SaaS or high-variation billing scenarios.
Geography and feature availability
Availability and supported features can vary by country, bank rails, and compliance requirements, which may constrain international use. Some businesses may require payment methods, payout options, or risk controls that are not offered in the Wave Payments package. Firms operating across multiple regions may need a processor with broader local payment coverage. Due diligence is required to confirm eligibility and supported capabilities for a given location.
Plan & Pricing
| Plan | Price | Key features & notes |
|---|---|---|
| Starter | $0 | Create unlimited estimates, invoices, bills, and bookkeeping records; Option to accept online payments (credit card: 2.9% + $0.60; Amex: 3.4% + $0.60); Invoice via mobile app; Manage cash flow and customers. |
| Pro | $19 USD/month (billed monthly) or $190 USD/year (billed annually) | Everything in Starter plus: discounted online payments (2.9% + $0 for Visa/Mastercard/Discover and 3.4% + $0 for Amex for the first 10 transactions each monthly period; thereafter 2.9% + $0.60 / 3.4% + $0.60), auto-import/merge/categorize bank transactions, unlimited receipt capture (or available as Receipts add-on), automate late payment reminders, live chat & email support, per-business subscription (not per user). See Payments/Support pages for processing timelines and bank payment (ACH) fees. |
Payments / usage-based fees (official):
- Credit cards (Starter): 2.9% + $0.60 per Visa/Mastercard/Discover transaction; 3.4% + $0.60 per Amex transaction.
- Credit cards (Pro): 2.9% + $0 for first 10 credit-card transactions each monthly subscription period (Visa/Mastercard/Discover), then Starter rates thereafter; 3.4% + $0 for Amex for first 10 transactions, then Starter Amex rate thereafter.
- Bank payments (ACH/EFT): 1% per transaction (minimum $1.00) on both plans.
- Payout timelines: credit-card payouts typically 1–2 business days; bank payments 1–7 business days.
Related paid items (official):
- Receipts add-on / standalone receipts feature: $8 USD/month (billed monthly) or $72 USD/year (billed annually); CAD pricing shown on site.
- Wave Advisors (bookkeeping services): starting at $199/month.
- Payroll: separate paid product (payroll subscriptions; payroll offers a 30-day free trial per Wave’s payroll docs).
Seller details
Wave Financial Inc.
Toronto, Ontario, Canada
2009
Private
https://www.waveapps.com/
https://x.com/wavehq
https://www.linkedin.com/company/wave-financial-inc/
