Wave Payments

ptacairptacair Member Posts: 3

Hi,

Initially, I was going to wait before integrating Wave with my business since there is no PO functionality and there is also no way to add a CSV file for products but have decided to try it anyway. I wanted to know if Wave collects the payments or using a third party? How is the transaction seen from the customer's view? (Will it show my business name or Wave or Bank) Also, is there a way to integrate Square?

I have orders that range greatly in price. Sometimes it's only $600 but sometimes it can be a couple thousand dollars, 3k-25k, sometimes even higher. I need to know that Wave will deposit funds into my account regardless of amount since the money being paid is the money being used to cover the cost of the items on the order. I need to know how long it takes to clear and that I won't have any issues in the future when customers make a payment since this is crucial to my business. (Side note: I don't like Paypal and would prefer to avoid it altogether)

Thank you.

edited January 21, 2019 in Sales & Invoicing

Comments

  • Ryan_WRyan_W Administrator Posts: 461 admin

    Hey @ptacair! Since you're in the US, you'd be processing these payments directly on our own rails that we developed in-house. Your customer pays through our portal, and we facilitate the movement of funds from their bank account/credit card to your bank account. When you set up payment processing with us, you'll have the chance to enter the billing descriptor that your customer sees on their statement (tip: make this very descriptive to avoid "friendly" chargebacks!)

    If your customer pays by credit card, it'll take 2 business days to deposit into your account; if they pay with a bank payment, it can take between 2-7 business days to deposit. Also, the payment amounts you're describing aren't unusual, however I still recommend that you maintain good documentation with your customers (like contracts and credit card authorization forms) because having firm documentation is key to protecting yourself from possible chargebacks! We have more details about best practices here.

    You can integrate with Square in Wave if you click "Integrations" on the left hand side bar; we partner with Zapier so that you can integrate a range of apps into Wave to make your life easier. I hope that's a good start for you!

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