Frequently asked questions

Why should I adopt Pay by Bank? (Merchants)

‍Pay By Bank is a new method of bank-to-bank fund transfers. It is a simple and easy 2 step checkout process available to anyone with an Australian bank account.

Over the previous decades, the most common payment methods have been cash, cheque or credit and debit cards. The growth of ecommerce has led to credit and debit cards becoming the dominant payment solution at checkout.

To make a payment with a card online, you need to use your payment credentials, which can easily be lost, stolen, copied or misused. In addition, cards for online purchases can be substantially less convenient as credentials expire and card details need to be stored or remembered.

Pay By Bank is underpinned by solid bank authentication methods and biometric authentication (e.g. FaceID and TouchID). As Waave is an accredited intermediary of Australia's Consumer Data Right (CDR), we are held to extremely stringent standards around data sharing. Pay by Bank is therefore a more regulated and secure payment method compared to traditional cards.

Why does Wendi need access to my bank details?

Wendi uses Open Banking to enrich your data across all of your bank accounts to provide you with a service. The first version of Wendi will allow you to see any subscriptions you have signed up to. If you’re looking to save money and uncover any subscription traps, this is the tool for you!

Where can I use Pay by Bank?

You can Pay By Bank whenever you see our ‘W’ Pay by Bank or ‘Waave Pay by Bank’ logo at the checkout.

Waave Pay By Bank will be available at more checkouts over the coming months.

How is my data used when I Pay by Bank?

Your banking credentials are never stored with us, that stays between you and your bank. Your personal data is encrypted and remains private. Please see our Privacy Policy for more information.

What (or who) is Wendi?

Wendi is a trusted financial friend who helps make your life better in a safe and secure way.

Wendi is a free and secure tool that allows you to manage your money better by bringing clarity and control back to you.

The first version of Wendi will allow you to view all your subscription costs from one place and show you where you could be saving money. Wendi finds the nasty expenses you may have forgotten about or let roll over month to month.

What is the pricing for Pay by Bank? (Merchants)

Waave charges a low flat fee of 28c per transaction to merchants.

What is the cost of Wendi?

It’s free! There’s no hidden catch. Use your own banking data to empower your finances, bringing transparency and clarity back to your spending.

What else can I do with Wendi?

Watch out for new versions of Wendi soon. If you have any special requests, we’d love to hear them at

What does Wendi show and not show?

Wendi will show your recurring subscriptions over a period of time.

Wendi will not show credits to your account, everyday spend, or ad hoc purchases.

What does Waave do?

Waave is the payment ecosystem that allows you security, visibility and freedom of choice over your money. By leveraging open banking data to reinvent the payment experience and create positive change for both businesses and consumers.

Is Wendi compatible with my credit card?

Wendi will allow you to view data from any bank issued credit card.

Non-bank lenders, such as American Express and Latitude cards are not compatible with Wendi.

What banks do you support?

We work with all Australian banks to help businesses enable simpler consumer-to-business payments.

Is Pay By Bank Safe?

Waave is an ACCC accredited data recipient and is regulated by AUSTRAC. This means your data is secured with the highest encryption management systems compliant with all Australian open data regulations.

Whilst Pay By Bank is passwordless, we are underpinned by solid bank authentication methods, including FaceID & TouchID, making it much more difficult for fraud to occur using your information. This is partly why Pay By Bank has some of the lowest fraud rates of any payment method.

Is Wendi safe?

Yes! Wendi uses bank-grade security technology that is covered by the Australian Competition and Consumer Commission (ACCC). Your data is safe and secure with Wendi.

Learn more about our security.

I don’t recognise a payment that has left my account, what should I do?

If you have concerns about potential fraudulent activity through Waave, contact us via email at or submit an enquiry at

How quickly will I get my money with a Pay by Bank payment? (Merchants)

Merchants will receive their funds within 2 Business Days

How Does Waave make its money?

Waave offers merchants a Pay by Bank service and charges merchants a transaction fee. The Pay by Bank payment method allows Waave users to use their linked bank accounts to pay merchants.

How does Pay by Bank work?

The process for Pay By Bank is simple - Select, Connect, Approve.

1. Select Pay By Bank at checkout.

As a customer visit the checkout of accepting merchants, they select “Pay By Bank” as an option

2. Connect your bank account.

Follow the simple steps to connect your bank from the list. This will create a secure link to authorise the payment.

3. Approve the payment.

Once approved, the funds will be transferred directly from your bank account to the merchant’s account and the checkout will be completed. No credit card details are needed and no personal financial information is shared with the merchant. Customers will have the opportunity to check their balance as they pay.

Customers can also Pay By Bank through a payment link shared via QR code or SMS message using our Get Paid product.

How do I set up Waave for my business? (Merchants)

Merchants can set up Pay By Bank as a payment option in their checkout by contacting us at Waave through

Waave gives businesses flexibility and scalability by integrating with commerce platforms for desktop, mobile, online and in-store. Integration with Waave can be set up within days, not weeks.

We have plug and play turnkey solutions for Shopify, CommerceTools, Magento, Wordpress/Woo Commerce and more. Check out our developer docs here

How do QR code payments work?

If a QR code is on your invoice as a payment method, just scan the QR code with the camera on your mobile phone. This will take you to a secure page where you can select your bank and approve the payment

How do I learn more about Open Banking?

Open Banking provides Australian consumers with choice and control over how their data is used and disclosed. See what the four major banks are saying about Open Banking:

ANZ | CommBank | NAB | Westpac

How do I delete my account?

To delete your account and all your data, please raise a support request using the form accessible from this page, or by emailing

How do I sign up to Wendi?

Sign up is easy through our website -

Sign up takes seconds, is secure and free! No app download needed, no product push.

Do I need to create an account to Pay by Bank?

On your first payment, Waave will create a Waave account using your mobile number and email address. Waave will then be able to send your confirmation of the transaction when completed.

Can’t find the answer to your question?

Contact us and we’ll get back to you as soon as we can

Want to use Waave Pay by Bank for your business?

Join the movement

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