Understanding Waveapps Credit Card Fees and Charges

Waveapps charges a small fee for using credit cards, which can range from 2.9% + $0.30 per transaction.

This fee is applied to all credit card transactions processed through Waveapps, regardless of the type of credit card used.

The fee is calculated based on the total amount of the transaction, and it's clearly displayed on the Waveapps dashboard for easy reference.

For example, if you process a transaction for $100, the fee would be 2.9% of $100, plus $0.30, totaling $3.20.

This fee is a standard practice in the payment processing industry, and it helps Waveapps maintain its services and provide a secure platform for businesses to manage their finances.

Wave's standard transaction fees on the free Starter plan are lower than those you'll pay on the free Square Invoices plan—Square charges 3.3% + $0.30 per invoice paid online.

However, the PayPal Invoicing transaction fee is slightly lower than Wave's, at 2.9% + 0.30.

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Wave charges higher fees on Amex transactions, whereas Square and PayPal do not.

Square charges 3.3% + $0.30 per invoice paid online on its free plan, making it more expensive than Wave's free plan.

The free plans of Wave and Square are pretty similar in terms of payment processing fees, but there are some differences.

Wave's fees on the free plan are lower than Square's, but higher than PayPal's.

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Wave charges 2.9% + $0.60 per credit card transaction for Visa, Mastercard, and Discover payments.

For American Express transactions, the fee starts at 3.4% + $0.60 per credit card transaction.

Wave offers a limited-time discount for new Wave Pro users, allowing them to accept Visa, Mastercard, and Discover payments at a lower rate.

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Wave offers a free subscription and a paid Pro subscription, with a pay-as-you-go model that boosts its score for pricing and contracts. This means you only pay for what you use.

The free plan has lower standard transaction fees than Square's free plan, but higher fees on Amex transactions. Wave charges 2.9% + 60 cents per online credit card transaction for Visa, Mastercard, and Discover, and 3.4% + 60 cents for American Express.

Wave's Pro subscription unlocks additional features, such as discounted rates for online payments, automatic importing for bank transactions, and unlimited digital receipts. This subscription also includes automated late payment reminders, attachments for invoices and estimates, and additional users per account.

Here's a breakdown of Wave's payment processing fees:

Note that Wave offers unlimited sales processing volume, but merchants with annual sales exceeding $1 million will need to enter into a special agreement with the card network or acquiring bank.

Wave's fraud protection system is a robust tool that combines internal risk assessment tools with third-party security and fraud detection service providers.

It's not customizable and isn't accessible from the menu, which means you won't be able to adjust it to fit your specific needs.

Wave will contact its merchants via email for any chargeback claim and assist in submitting documents to counter the claim.

The chargeback fee of $15 is refundable for merchants who successfully defend the chargeback, which is a nice perk.

Wave Payment Processing offers a flat rate fee for online payment processing, with higher rates for American Express transactions. Merchants must undergo a separate application process to accept online payments.

Wave charges a monthly account fee of $0 for the Starter plan, $16 for the Pro plan, and $170 billed annually. The online credit card fees for Visa, Mastercard, and Discover start at 2.9% + $0.60 per transaction.

Here's a breakdown of Wave payment processing fees:

Merchants with annual sales volume exceeding $1 million will be required to enter into a special agreement with the card network or acquiring bank.

When you're looking for a free Square card reader for your business, it's essential to know that the vendors listed are chosen by subject matter experts based on product quality, wide usage, and positive reputation.

Merchant Maverick's ratings are editorial in nature, and they're not aggregated from user reviews. Each staff reviewer is a subject matter expert with experience researching and evaluating small business software and services.

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The rating of a company or service is based on the author's expert opinion and analysis of the product, assessed and seconded by another subject matter expert on staff before publication. This ensures that the ratings are unbiased and not influenced by affiliate partnerships.

Merchant Maverick adheres to strict guidelines to preserve editorial integrity, and the editorial content on this page is not provided by any of the companies mentioned.

Wave offers a flat rate fee for online payment processing, with higher rates for American Express transactions. Merchants will need to undergo a separate application process to accept online payments, providing business and personal information for identity verification and credit review.

Wave charges a flat rate fee for online payment processing, with higher rates for American Express transactions. The monthly account fee is $0 for the Starter plan and $16 for the Pro plan, billed annually at $170.

Curious to learn more? Check out: Amex Credit Card Fees Merchants

Online credit card fees for Visa, Mastercard, and Discover start at 2.9% + 60 cents per transaction. American Express transactions start at 3.4% + 60 cents per credit card transaction.

Here's a breakdown of Wave's payment processing fees:

Wave offers unlimited sales processing volume, but merchants must enter into a special agreement with the card network or acquiring bank (Worldpay) if their annual sales volume exceeds $1 million.

We evaluate payment processors like Wave using a 24-point rubric to ensure fairness and transparency.

Our methodology involves examining the pricing structure, with a focus on interchange plus, subscription-based, tiered, or hybrid models. We dock points for tiered models that lack transparency.

We also look at rates, early termination fees, and additional fees to ensure Wave's pricing is fair and transparent.

Contract length and fairness are also key factors in our evaluation, as we want to ensure Wave doesn't lock customers into long-term contracts with unfair terms.

We test out Wave's sales staff and customer service channels to guarantee they use reputable sales techniques. This ensures you get a smooth and honest experience when working with Wave.

Finally, we consider Wave's online reputation by reading customer reviews and comments to get a sense of their overall customer satisfaction.

Wave's credit card fees can be a bit overwhelming, especially for small businesses. The monthly payment processing fee is 2.9% + 30¢ per transaction.

One thing to consider is the flat rate per transaction, which can add up quickly. This fee is charged on every transaction, including online payments and in-person sales.

The transaction limit for Wave's free plan is $1,000, after which the monthly payment processing fee kicks in. This can be a deciding factor for businesses with high-volume sales.

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Wave has some limitations to consider. One of the main cons is that it has limited integrations with other apps and services.

If you're planning to accept credit card payments, you should know that Wave charges a higher transaction rate for American Express compared to Visa and Mastercard. This can add up, especially if you have a large number of AmEx transactions.

Here are some specific transaction fees to keep in mind:

You'll also need to go through a separate application process to set up payment processing with Wave. This can be a bit of a hassle, but it's worth it for the features and benefits you'll get.

If you're considering Wave for your business, here are some deciding factors to keep in mind.

The supported business types are flexible, covering retail and professional services.

Wave's monthly fees are competitive, with a starter plan that's free and a pro plan that costs $16 per month, or $170 billed annually.

You can choose from a month-to-month contract or stick with it for the long haul - there's no long-term commitment required.

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Wave's payment processing fees are also worth noting, with the starter plan charging from 2.9% + 60 cents per transaction, and the pro plan charging from 2.9% + a flat fee.

One thing to keep in mind is that Wave doesn't offer a free trial, so you'll need to sign up and start using the service right away.

If you do have any questions or concerns, Wave's customer support is available via email and chat, but only Monday to Friday from 9 a.m. to 4:45 p.m. ET.

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