While users never pay a monthly fee, they will have to pay a credit card processing fee of 2.9% plus 30 cents per transaction if they use Wave to process credit card payments. This fee can vary depending on the type of card the customer uses. One of Wave’s most popular invoicing features is the ability to create user-friendly customizable templates.

You’ll need to answer a few questions about your business and provide us with a little more information about yourself in order to get approved to accept online payments. Once you have your payments set up, Wave gives you access to its virtual terminal. Click on the “Accept Payments” button at the bottom of the left-hand menu panel to access this feature.

1. The invoice comes with a “Pay Now” button where customers can choose to pay by credit card, bank transfers (ACH), and Apple Pay.
2. Wave is an invoicing platform, so payment methods available are those that can be processed remotely, such as credit card payments and ACH, including international payments.
3. We read every message and will respond if you’d like us to.
4. Wave Payments is an online payment processing and invoicing software that lets businesses accept online payments, bill customers through email and keep track of income records.

Plans to makeyour plans happen.

Deposit times may vary due to processing cutoff times or third party delays. Wave users can accept credit card payments over the phone, online or in person. Add a “Pay Now” button on invoices and you will automatically be able to receive Apple Pay, credit card payments and bank transfers. Money is typically deposited into accounts within two business days and all payments are recorded to have you set when tax season rolls around. Note that you will pay credit card processing fees on all applicable transactions. Another free software option to consider is FreshBooks, which lets you customize your invoice and accept online payments.

Accept credit card and digital payments from your invoices

We provide different levels of support, depending on the plan and/or the add-on features you choose. You’ll receive the money in your account in 1 business day (Canada), or 2 business days (US)1. Customers can pay instantly by contradebt credit card or Apple Pay when they view the invoice online. Yes, like all other transactions, the transfer of funds to and from a merchant’s bank account is fully encrypted, so data is not locally stored or susceptible to hackers. Please note that these are all online rates via invoicing.

Wave automatically tracks and records all payments for reporting and tax purposes. Wave charges a flat rate fee for online payment processing with an additional 0.5% for AmEx transactions. The payment processing rates you will pay can vary based on your business’s size, type, and average order value (AOV). To find the most affordable option and compare multiple processing rates, read our guide to the cheapest credit card processing. Wave Invoicing is ideal for freelancers, entrepreneurs or small businesses.

To say a lot is going on with QuickBooks Payments is an understatement. The service comes with multiple plans ranging from free to $20/month, each with its own processing rates and model. Overall, however, Wave Payments is more than competitive with QuickBooks Payments, especially where invoice transaction fees are concerned. Unless you’re looking to switch to QuickBooks for your accounting needs, there’s not much incentive to choose it over Wave. PayPal’s current online transaction pricing, on the other hand, is somewhat confusing and varies by plan, but the standard processing rate is 2.99% + $0.49. We’d normally call this an expensive flat rate, but Wave’s current 2.9% + $0.60 rate will be more expensive for transactions under $120 (and cheaper for those over).

Invoice Creation

Wave’s transaction fees for American Express card payments are 0.5% higher than its fees for other card brands. It also charges one of the highest fixed per-transaction fees of 60 cents (PayPal charges 49 cents for US merchants and 30 cents your total costs for health care per online transaction with Square). So while it lets you process unlimited payments, merchants with a regularly high number of transactions should consider a more affordable alternative. Wave offers a decent range of invoice creation tools and abilities.

Wave reports are more accounting-oriented than simple sales reporting. bookkeeper duties Report types are either accrual or cash basis, and invoice sales are categorized as receivables. This makes it less user-friendly for merchants with a limited bookkeeping background as opposed to straightforward sales records. There are also no analytics, and customization is very limited.

As is the case with Square, American Express is processed at the same rate as Visa, Mastercard, or Discover. We took a closer look at Wave’s payment processing features and evaluated the software based on our criteria for online payment services. Overall, customers have found Wave easy to use and convenient for invoicing and accepting payments. They like the mobile app and dashboard features, along with the ability to make professional, branded invoices. Additionally, customers have found the payment processing aspect flexible and well-priced for the features they get.

Get paid online

You can create one for each business and also maintain a personal profile where you can track your finances. And because there is no monthly fee, this makes Wave great for small, serial entrepreneurs and those who run more than one seasonal business. Reviews often say customer service isn’t helpful, especially in working through disputed claims and chargebacks.