Getting started with Wave Payments
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Getting started with Wave Payments
Make it easy for customers to pay you and get paid faster!
Payments by Wave makes getting paid easy! With credit card option bank payments options built directly into your invoices, you’ll be paid ...
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Can you please clarify the 1% bank payment? Is this charged only if we request direct to bank deposits? When does this fee apply?
@Tevilyne if you're located in Canada or the US, you'll have the option to get paid by one or both of credit card payments and bank payments. If your customer chose to pay directly from their bank account to yours through the online payment option on your invoice, then it's a 1% processing fee for the transaction (rather than the 2.9% + $0.30 for credit cards). The 1% fee is deducted while the funds are in transit, with the remainder deposited after.
Thank you :-)
The 2.9% is on the total amount and that is deducted from the payment, correct? The $.30 is a flat rate and not per $100 or $1, or anything like that?
@mrivera74 That's correct, it's 2.9% on the total amount for the transaction + 0.30 cents which is a flat rate that doesn't change.
Hi @Kevinwill - apologies about this. Payments by Wave is only available inside North America. We have extended support via Stripe to some countries outside of North America (who are processing in the currency of their resident country) but they currently do not support South Africa: https://stripe.com/global
As a possible work around, you could use Zapier (which is third-party automation software, and free for the base model) to trigger actions in Wave from a third-party payment processor such as PayPal. Once setup, invoices can be generated and marked as paid in Wave automatically, so it would be very similar to using directly integrated platform (like Stripe or Payments by Wave).
You can find out more here: https://zapier.com/apps/wave/integrations
Hi, @Samd Thank you for getting back to me in regards to this. We are now using PayFast which is a Payment Gateway for online payments. Is there any way to integrate this into Wave. I really love using Wave its simple to use. Currently, we have to send a client our invoice via Wave and separate email with the payment link. Is there any way we can simplify this. I hope you are able to assist.
Thanking you in advance.
Hey @Kevinwill I'm afraid that Wave doesn't currently have a direct integration with PayFast (but maybe in the future)! It sounds like you are trying to cut down on how many emails you need to send to your customers. When you send an invoice in Wave, you'll be able to create a custom message that your customer will see in the email. I'm not familiar with PayFast, but I do know that any URLs that are entered in this area are clickable, and this seems like an area that you may be able to enter the PayFast link for your customers to pay for the invoice.
Hi, I am from Malaysia. Stripe is now available in Malaysia. Can you enable Stripe payment in my account?
Hi @LiewCF, thank you for your interest in Payments by Wave! I'm afraid that while Stripe is available in Malaysia, Payments by Wave through Stripe is not.
As a possible alternative, you could use Zapier to integrate Wave with a third-party payment processor such as Stripe. For more information about the Wave + Stripe Zapier integration, please see: https://zapier.com/apps/wave/integrations/stripe
Hi, I am from India and I am not able to see the Payments option under Sales. Am I missing something?
Hey @Umang, thanks for reaching out! In house payment processing is currently only available to our users in North America, for some of users in other locations we have partnered with Stipe, but, I'm afraid, Stripe is not currently accessible in India through Wave.
There is no Payment tab under sales.
I want my customers to do bank transfers. I've added my bank- but not sure if it's all connected or how the client goes about paying?
Hi @Cokelpops . You should be able to see a Credit Card Payments tab under the Sales button. Because you're based in Australia, you'll only be able to accept payments through Credit Card with Stripe.
When I click the 'Turn on payments' button it just keeps on loading and it never turns on. I don't know if I'm missing something or am I not eligible to accept payments through Wave?
Hey @JeanLouise! That's a bit of an odd one, can you let me know what browser you're using? Also, whereabouts is your business located? That would be one of the biggest issues that could be preventing you from turning on payments.
I am all set up on Payments but my invoices do not have a link to pay via credit card. So my customer still can't send payment via credit card. What am I missing?
UPDATE: I turned off payments then turned them on again. Then the form showed up for the customer.
Glad to hear you were able to figure it out, @Was !
I am trying to setup payment information for a 3-Member LLC. Each member owns a third of the business. I've entered all the required owner information but when I click "save and continue" I get a message telling me to "review and update the highlighted fields." There's a red warning symbol next to each owner. When I go into the owner information for each one, though, nothing appears to be wrong and no fields are highlighted. The only thing I can think of is that if you add up the ownership percentages, they add up to 99.9% rather than 100. Any thoughts as to whether that can be the problem?
UPDATE: I tried changing one of the ownership interests from 33.3% to 33.4% so that it would add up to 100%, but no change in the problem. That does not appear to be it.
I too do not see an "add Payments" button under sales. I am in Canada. Why can I not add payments to my wave account?
Hi @ErikB! The Application does not allow you to enter decimal points for the percentage values. It will have to be a rounded out value.
Hey @Goodyglen! There won't be an 'add payment' button as such. If you are trying to set up Wave Payments you would do so under: Sales -> Payments in your Wave account. There is an application to fill out under the 'Payments' tab that will be submitted for review. For more information on the set up process you can check out this Wave guide: Setting up Wave Payments.
I left the point in the set up process of linking my bank account for customer's credit card payments. Now I cannot get back in to continue to finish setting up so that I can receive payments. Please help
UPDATE: Fixed. thank you
If I am reading this article correctly - when online payments are, they are automatically transferred to the designated bank account after N business days based on the payment method.
1. if multiple payments are due to be transferred on a specific date - are these transferred as a single combined deposit or as multiple individual deposits.
2. Would it be at all possible to schedule all available payments to be transferred on say a weekly or monthly basis?
3. Would it be possible to initiate the transfers manually (as done in PayPal)
Reason for asking this is that depending on the plan of the target bank account - there may be a per deposit charge levied by the bank - so too many deposits in a given period could cost the business more $$
Thanks - Robin
My implementation of Wave is primarily to invoice our organization membership for their annual membership dues.
We have chapters in Canada, USA, UK, South Africa and Israel.
The plan is to set up a Wave account for each chapter and using Integromat integration generate invoices in the applicable chapter Wave account.
Our initial rollout is going to be to the Canadian and US chapters. Seems to me from reading on this site - that for these chapters, no issues in setting up online payments for these accounts (credit card and direct bank transfer).
So while there are comments about this being only available in Canada and USA - these all seem to be from 2019 or earlier. In the IT and finance world, things are always changing - so what are the current payment options for our chapters in UK, South Africa and Israel and if credit card and/or direct bank payment options are not yet available are there any time line for this to be implemented. It is unlikely that we will be on-boarding the chapters outside of Canada and the USA until 2021
Thanks
Robin
Hi @robinsapiro , thanks for your message. I'll answer all of your questions below!
Q: if multiple payments are due to be transferred on a specific date - are these transferred as a single combined deposit or as multiple individual deposits.
A: If the payments occurred the same day, and are the same payment type, they will likely deposit at the same time in a single batch. As in, if you were paid Tuesday via credit card by two different customers, then both would deposit on Thursday, together as one deposit (but you could see the payments separately within Wave in Sales > Payments). The exception would be that ACH bank payment timelines vary depending on both the issuing & receiving banks' security timeline requirements, e.g. one bank might deposit within 2 business days, and another might take 3.
Q: Would it be at all possible to schedule all available payments to be transferred on say a weekly or monthly basis?/Would it be possible to initiate the transfers manually?
A: I'm afraid this is not possible; the timelines are not able to be managed in this way. Payouts will pay on their usual timelines according to the region, which differs slightly between Can/US. Thank you for sharing how this would impact your business!
Q: Can I use Payments in UK, Israel, and South Africa?
A: You can use payments via Stripe for a UK business, but Israel and South Africa are not currently supported for Stripe payment processing. If you create a UK business in Wave and head to Sales > Credit Card Payments, you'll be able to integrate the business payments with Stripe! (Wave will not be the payment processor for that business.)
WAVE HOLD MY PAYMENT!!!!
This is the worst small business accounting software I've encountered. I usually use wave for accounting and invoice. This is the first time, I send my invoice to my client with bank online payment.
I got a congratulation email on Oct 27 and informed me that I got a payment from my client. But few days later, nothing happened!!! NO MONEY COME IN.
ON 4 Nov 2020, 16:18 GMT-5, I got another email stating they're either going to hold the funds for 65 days or refund them back to my client. Super surprise!!
Why wouldn't you say something on the day the transaction was initially processed? If there is any problems, why wouldn't you tell me instead of congratulation?
Why would you wait one week until my client's bank can't ask for payment return or chargeback?
Why wouldn't you have the decency to call the small business owner and tell them this over the phone? That's what GOOD customer service is all about.
Why isn't there a support phone number on your website? You're holding people's money and processing payments. There needs to be a phone number for a real people there.
For this reason alone I'm filing with the BBB because that's insane.
This is the worst small business accounting software I've encountered. I usually use wave for accounting and invoice. This is the first time, I send my invoice to my client with bank online payment.
I got a congratulation email on Oct 27 and informed me that I got a payment from my client. But few days later, nothing happened!!! NO MONEY COME IN.
ON 4 Nov 2020, 16:18 GMT-5, I got another email stating they're either going to hold the funds for 65 days or refund them back to my client. Super surprise!!
Why wouldn't you say something on the day the transaction was initially processed? If there is any problems, why wouldn't you tell me instead of congratulation?
Why would you wait one week until my client's bank can't ask for payment return or chargeback?
Why wouldn't you have the decency to call the small business owner and tell them this over the phone? That's what GOOD customer service is all about.
Why isn't there a support phone number on your website? You're holding people's money and processing payments. There needs to be a phone number for a real people there.
For this reason alone I'm filing with the BBB because that's insane.
Hey @SannyWang !
I'm sorry to hear that. After taking a closer look on the back end, it looks like one of our support agents helped you with this via your chat request. If you have any questions, please feel free to reach back out to us and we will gladly assist you further.
Unfortunately support seams very slow to respond to any request. I had applied to process payments and finally got what appears an automated/generic email saying they feel it’s too risky and processing payments is not approved for my account. No details, no remedy or anything I could provide to change this.
First I was disappointed that I was denied to accept payment through Wave. Reading these support comments it becomes evident that I am better off relying on other providers for payments and just keep the accounting portion in Wave.