Pay By Bank

Waave Pay by Bank. Payments directly from your bank. A secure and seamless 21st-century version of direct debit. Online and in store. No Fees! No Surcharges! It’s a better way to pay.
Try Checkout.
Just click or scan QR code.
A better payment experience.
No passwords, no card details, no surcharging.
Safer and more secure trusted banking authentication.

How it works.

Businesses offering Pay by Bank
Accepting card payments is expensive! We reduce the cost by 70-80%.
Improved business efficiency and conversion with true real-time payments.
A turn-key payment solution that can be implemented in days.

Latest articles.

Australia’s $3billion payments black hole

Australia’s $3billion payments black hole

The cost for merchants to accept payments in Australia is now close to $3billion. Low-cost routing is being pushed as the solution, but it won't work. The real problem is that everyone is in bed with each other. It's time we recognise that, and explore effective ways to reduce the cost of payments.
What is Pay By Bank?

What is Pay By Bank?

Pay by Bank is bringing payments into the 21st century. Here’s how open banking is reducing merchant fees by up to 80%.
Introducing Waave: A New World of Payments

Introducing Waave: A New World of Payments

What if there were a way to transact without exorbitant fees and with full control? Well, now there is. Waave hello to a new world of payments.
Traditional Payment Systems Are Outdated – Here’s Why

Traditional Payment Systems Are Outdated – Here’s Why

Traditional methods of payment are no longer our only options. As we move into a new era of payments, here’s why we’re saying goodbye to the old one.
Australia’s $3billion payments black hole

Australia’s $3billion payments black hole

The cost for merchants to accept payments in Australia is now close to $3billion. Low-cost routing is being pushed as the solution, but it won't work. The real problem is that everyone is in bed with each other. It's time we recognise that, and explore effective ways to reduce the cost of payments.
What is Pay By Bank?

What is Pay By Bank?

Pay by Bank is bringing payments into the 21st century. Here’s how open banking is reducing merchant fees by up to 80%.
Introducing Waave: A New World of Payments

Introducing Waave: A New World of Payments

What if there were a way to transact without exorbitant fees and with full control? Well, now there is. Waave hello to a new world of payments.
Traditional Payment Systems Are Outdated – Here’s Why

Traditional Payment Systems Are Outdated – Here’s Why

Traditional methods of payment are no longer our only options. As we move into a new era of payments, here’s why we’re saying goodbye to the old one.

A few more questions.

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.

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.

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.

How do I sign up to Wendi?

Sign up is easy through our website - https://www.waave.com/wendi

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

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.

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!

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.

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 banks do you support?

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

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 contact@waave.com

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.

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 support@waave.com.au or submit an enquiry at support.waave.com

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.

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

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.

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 support@waave.com.

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.

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.

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 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 contact@waave.com

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

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.

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

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

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

Merchants will receive their funds within 2 Business Days

Join the movement.