Option to make Customer absorb Wave Payment Fee when paying by card
Virgil
Member Posts: 23 ✭✭
When enabling payment by credit card, please allow a further option that, when enabled, automatically adds a "Credit Card Processing Fee" item to the invoice if the customer chooses to pay by card. The cost of the additional item is calculated so that the original invoice total will be received by the Business, with Wave still taking its usual fee.
9
Comments
To be clear, the way this would work – when the option is enabled – is that:
1. On the payment page, the customer sees an option to "Pay by Card"
2. Upon selecting this option, the additional "Credit Card Processing Fee" is added to the bill and the total that they have to pay is increased
3. The customer completes payment with the new total
e.g.
Hi @virgil , thanks for getting in touch. I appreciate you taking the time here to fully map out your feature idea. This is definitely requested from time to time but we've been hesitant to implement it due to the fact that in certain regions there are laws around passing merchant fees to your customer. Regardless, I'll pass this feedback on to the team, but in the meantime you can use our Help Center article on how to pass these along manually.
I think in many places the credit card companies themselves expressly prohibit the merchant from assessing merchant fees or card-use fees to the customer. If this is the case then Wave might be in violation of its TOS with the credit card companies since Wave is the one accepting/processing the CC payments.
Virgil, if you have a lot of customers who pay by credit card, you might just need to increase your prices across-the-board to account for the percentage that the credit card fees will take. You will collect a bit of extra profit from those who pay via direct cash-type transfers.
@AlexL and @davejordan – it is absolutely within the credit card companies TOS to charge for that payment method JUST IF it is a charge for CONVENIENCE – which it is in this case. It is significantly more convenient for the client to pay immediately by card than do a BACS transfer. You are allowed to charge for that "service".
Clients paying by card is something that essentially happens randomly. It's not all clients, and there's little rhyme or reason to when they do it. I also charge some clients a lot (big projects), some a little (small ones). I can't therefore just raise prices across the board.
It is also not possible to add the extra fee manually, because I don't know in advance if the client will elect to pay by card on any given invoice.
Wave would make more money from me if it enabled this feature, because then I would stop turning off credit card payments! (Currently I only leave it on when the invoice is small, or I need payment fast.) I'd be happy to leave it on for any invoice amount, if they simply charge the customer. But as it stands, I actually can't afford the Wave Payments Fee when the invoice amount is large: the fee amounts to quite a lot!
Thanks for giving us the full story here, @Virgil . It helps us better understand your business, as well as how this would increase your use of Wave.
@AlexL please can I add a suggestion here which may be the best of all world for Wave and for Wave users.
There should be a middle option:
If set to the middle option (i.e. customer can request) then the customer sees a "pay by card" option. If they click this, the following happens:
The accounting user is then able, when they receive the notification/customer contact, to:
Please consider it.
Just to say it again: any features implemented against this thread would directly result in greater revenue for Wave, as I would allow CC payments on more of my bigger invoices.
Thanks.
Just jumping on this thread to second the motion by @Virgil. I would love to see this happen in wave and it would allow much more convenience and flexibility in payment for my customers. It's beyond my pay grade to say what's allowed, but I would think if the state can pull it off when they charge me to renew my license plates, I would imagine someone should be able too? Regardless, would LOVE to see this feature!
@AlexL (& @BarsinA) this would go a long way to getting me back on the 'Use-Wave-Payments' train.
I could make do with the 10-day wait, but not the fee and the wait. 
@AlexL Any update on this implementation?
Hey @MichaelG
Thanks for your post here. At this post we haven't heard from the payments team of when this will be implemented. Sorry I'm unable to give you an ETA on this!