Comparison · Updated September 16, 2026
Wave vs QuickBooks Payments
Wave (Wave Financial)
B-
Wave is a Toronto software company, started in April 2010, that gives away accounting and invoicing to very small businesses and makes its money when those invoices get paid. H&R Block bought it for $405 million in a deal that closed on 1 July 2019, and it has been a subsidiary ever since. Payments run at 2.9% plus 60 cents for Visa, Mastercard and Discover, 3.4% plus 60 cents for American Express, and 1% with a $1 minimum for bank payments, with no monthly fee on the free Starter plan; a $19-a-month Pro plan waives the 60-cent card fee on the first ten transactions each month and adds features. Card money lands in one to two business days, bank payments in one to seven, and eligible accounts can pull an instant payout to a debit card for a further 1%. Since November 2020 Wave has served the United States and Canada only. Its US card processing is powered by Adyen and Stripe, which Wave discloses in its own terms.
QuickBooks Payments (Intuit)
B
QuickBooks Payments is Intuit's card and bank-payment service, sold as an add-on to QuickBooks Online rather than as a standalone merchant account. Intuit was founded in 1983 and is headquartered in Mountain View, California; money movement is provided by Intuit Payments Inc., licensed as a money transmitter by the New York State Department of Financial Services, and the card acquiring itself runs through JPMorgan Chase Bank, N.A. and Paymentech, LLC under the commercial entity merchant agreement Intuit publishes. Rates are published in full and, as of the figures Intuit dated 30 April 2026, are 2.5% for in-person payments, 2.99% for invoices and other card and digital-wallet transactions, 1% for ACH bank payments, 3.5% for keyed cards, and 2.99% for buy-now-pay-later through Affirm. There is no monthly fee for Payments itself, no minimum and no long-term contract. The defining trade-off is reconciliation: nothing else puts card, ACH, PayPal, Venmo and Affirm volume straight into your books with no matching step, and nothing else in this price band has quite the same reputation for freezing deposits.
VS
Overview
Wave and QuickBooks Payments are both payment services bolted onto accounting software, and both publish every rate. Wave's accounting and unlimited invoicing are free, and it charges 2.9% + 60¢ on cards and 1% on bank payments; QuickBooks Payments has no fee of its own but sits behind a QuickBooks Online subscription, and charges 2.99% with no per-transaction cents on invoices, 1% on ACH, 2.5% in person and 3.5% keyed. On a typical invoice the card cost is nearly identical — QuickBooks is cheaper below about $667 and Wave above it — so the decision turns on everything else. QuickBooks, graded B, deposits next business day, takes in-person payments, staffs support six days a week and charges $25 per chargeback. Wave, graded B-, has no in-person option, deposits US card payments in two business days, charges $7–15 per chargeback and offers a cheaper 1% instant payout. Wave is the better fit for a very small service business that wants free books and emailed invoices; QuickBooks Payments for a business already on QuickBooks Online or one that also sells face to face.
Key Takeaways
- ✓QuickBooks charges 2.99% flat on invoice card payments; Wave charges 2.9% + 60¢ (3.4% + 60¢ on Amex), so QuickBooks is cheaper on invoices under about $667 and Wave on larger ones.
- ✓Both charge 1% on ACH bank payments; Wave applies a $1 minimum fee.
- ✓QuickBooks takes in-person payments at 2.5% with a card reader or Tap to Pay on iPhone; Wave has no card-present option at all.
- ✓Wave's accounting and unlimited invoicing are free; QuickBooks Payments needs a QuickBooks Online plan — the Free plan allows two invoices a month, Lite is $20 and in-person payments require Simple Start at $38.
- ✓QuickBooks deposits most payments the next business day before a 3pm Pacific cutoff and charges $25 per chargeback; Wave deposits US card payments in two business days and charges $7–15 per chargeback.
Wave (Wave Financial)
Wave is for freelancers and very small service businesses in the US or Canada that invoice by email, want accounting and invoicing for nothing, send larger invoices where 2.9% + 60¢ beats 2.99%, and can accept two-day card deposits and support by chat and email only.
QuickBooks Payments (Intuit)
QuickBooks Payments is for businesses already running QuickBooks Online, or that need in-person and invoice payments from one provider, want next-business-day deposits and phone-and-chat support, and value payments posting straight into their books.
The Verdict
It Depends on Your Needs
Why?
On card cost the two are close enough that the ticket size decides it — QuickBooks's flat 2.99% wins below about $667 an invoice, Wave's 2.9% + 60¢ above — and both charge 1% on ACH, so neither wins on rates. QuickBooks Payments, graded B, is the more complete service: it takes in-person payments at 2.5%, deposits next business day, offers phone support six days a week and negotiates volume discounts. Wave, graded B-, wins on total cost for a very small business because the software is free where QuickBooks Online costs $20 to $140 a month, and on chargebacks and instant payouts. A business already paying for QuickBooks Online should use QuickBooks Payments and take the reconciliation for free. A freelancer or micro-business that invoices a few clients a month and does not sell face to face will pay less overall at Wave, provided they can live with slower deposits and chat-only support.
Feature by feature
Detailed Comparison
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Processing rates (US rate cards, USD)
| Feature | Wave (Wave Financial) | QuickBooks Payments (Intuit) |
|---|---|---|
| Invoice paid by Visa, Mastercard or Discover | 2.9% + $0.60 | 2.99% |
| Both from the providers' pricing pages; Intuit dates its rates 30 April 2026. The two cross at about $667: a $100 invoice costs $3.50 at Wave and $2.99 at QuickBooks, a $2,000 invoice $58.60 at Wave and $59.80 at QuickBooks. Wave's Pro plan ($19 a month) waives the 60¢ on the first ten card transactions each month. | ||
| Invoice paid by American Express | 3.4% + $0.60 | 2.99% Winner |
| QuickBooks charges the same 2.99% for Amex, Apple Pay, PayPal and Venmo on invoices. Wave prices Amex separately and does not accept PayPal or Venmo. | ||
| ACH bank payment on an invoice | 1%, $1 minimum | 1% |
| Wave offers EFT at the same 1% for Canadian businesses. QuickBooks's rates page lists 1% with no minimum or cap shown. | ||
| In-person card payment | Not offered | 2.5%, no per-transaction cents Winner |
| Wave has no terminal, reader or point-of-sale product. QuickBooks accepts cards with its card reader or Tap to Pay on iPhone; in-person payments through QuickBooks Online require the Simple Start plan or above. | ||
| Keyed-in card | 2.9% + $0.60 | 3.5% |
| Wave charges its standard card rate whether the customer pays the invoice online or you enter the card yourself. The two cross at exactly $100: below it QuickBooks is cheaper, above it Wave is. | ||
| Instant payout | 1% of the net amount; $25 minimum Winner | 1.75% of the deposit |
| Wave enables instant payouts automatically for eligible accounts, to a debit card, within about 30 minutes including weekends. QuickBooks's instant deposit runs daily including nights, weekends and holidays. | ||
Invoice paid by Visa, Mastercard or Discover
Wave (Wave Financial)
2.9% + $0.60
QuickBooks Payments (Intuit)
2.99%
Both from the providers' pricing pages; Intuit dates its rates 30 April 2026. The two cross at about $667: a $100 invoice costs $3.50 at Wave and $2.99 at QuickBooks, a $2,000 invoice $58.60 at Wave and $59.80 at QuickBooks. Wave's Pro plan ($19 a month) waives the 60¢ on the first ten card transactions each month.
Invoice paid by American Express
Wave (Wave Financial)
3.4% + $0.60
QuickBooks Payments (Intuit)
2.99%
Winner
QuickBooks charges the same 2.99% for Amex, Apple Pay, PayPal and Venmo on invoices. Wave prices Amex separately and does not accept PayPal or Venmo.
ACH bank payment on an invoice
Wave (Wave Financial)
1%, $1 minimum
QuickBooks Payments (Intuit)
1%
Wave offers EFT at the same 1% for Canadian businesses. QuickBooks's rates page lists 1% with no minimum or cap shown.
In-person card payment
Wave (Wave Financial)
Not offered
QuickBooks Payments (Intuit)
2.5%, no per-transaction cents
Winner
Wave has no terminal, reader or point-of-sale product. QuickBooks accepts cards with its card reader or Tap to Pay on iPhone; in-person payments through QuickBooks Online require the Simple Start plan or above.
Keyed-in card
Wave (Wave Financial)
2.9% + $0.60
QuickBooks Payments (Intuit)
3.5%
Wave charges its standard card rate whether the customer pays the invoice online or you enter the card yourself. The two cross at exactly $100: below it QuickBooks is cheaper, above it Wave is.
Instant payout
Wave (Wave Financial)
1% of the net amount; $25 minimum
Winner
QuickBooks Payments (Intuit)
1.75% of the deposit
Wave enables instant payouts automatically for eligible accounts, to a debit card, within about 30 minutes including weekends. QuickBooks's instant deposit runs daily including nights, weekends and holidays.
Best For Your Business
Recommendations based on your business type
Freelancer or consultant sending a handful of invoices a month
Recommended
Wave (Wave Financial)
Wave's accounting and unlimited invoicing cost nothing, and on invoices above about $667 its 2.9% + 60¢ is cheaper than QuickBooks's 2.99%. QuickBooks's Free plan caps invoices at two a month.
Business already subscribed to QuickBooks Online
Recommended
QuickBooks Payments (Intuit)
The subscription is already paid for, payments post straight against the invoices that produced them, and deposits arrive next business day rather than in two.
Tradesperson or mobile business that also takes cards on site
Recommended
QuickBooks Payments (Intuit)
QuickBooks takes in-person payments at 2.5% with a reader or Tap to Pay on iPhone. Wave has no card-present option, so it would need a second provider.
Business collecting large invoices by bank transfer
Both charge 1% on ACH from the same invoice the customer already has; Wave adds a $1 minimum that does not matter on large amounts. Choose on software cost and deposit speed instead.
Retailer or restaurant with a counter
Neither. Wave has no point of sale, and QuickBooks's reader and Tap to Pay are for occasional in-person payments rather than a full register. A dedicated POS provider with a card-present rate card is the better fit.
Canadian small business wanting free invoicing
Recommended
Wave (Wave Financial)
Wave publishes a Canadian rate card, deposits Canadian card payments in one business day, and its Pro plan is $25 CAD. The QuickBooks rates compared here are Intuit's US rates.
Wave (Wave Financial): Best for 2 use cases
QuickBooks Payments (Intuit): Best for 2 use cases
Frequently Asked Questions
Common questions about this comparison
It depends on the invoice size. Wave charges 2.9% + 60¢ and QuickBooks 2.99% with no per-transaction fee, so QuickBooks is cheaper on invoices under about $667 and Wave on larger ones — the difference is under a dollar either way on most invoices. On Amex, QuickBooks's 2.99% beats Wave's 3.4% + 60¢ at every size. Both charge 1% for ACH bank payments. The bigger cost gap is the software: Wave's accounting and invoicing are free, while QuickBooks Payments requires a QuickBooks Online plan from $20 a month for unlimited invoices.
No. Wave is built around emailed invoices and payment links and offers no terminal, reader or point-of-sale product. QuickBooks Payments takes in-person payments at 2.5% with the QuickBooks card reader or Tap to Pay on iPhone, though in-person payments through QuickBooks Online require the Simple Start plan or above.
QuickBooks deposits most card, PayPal, Venmo and ACH payments the next business day if processed before 3pm Pacific, or within two business days after that; a new account's first batch takes up to five business days. Wave deposits US card payments in two business days and Canadian ones in one, with bank payments taking two to seven business days in the US, and says these timelines cannot be expedited. Both sell instant payouts: 1% at Wave to a debit card, 1.75% at QuickBooks.
Wave withdraws the disputed amount plus a fee of $7 to $15 from your connected bank account, and if the cardholder's bank rules in your favour it redeposits the amount less the fee. QuickBooks charges $25 per chargeback under its terms of service, which is not returned if you win; the fee is waived while you are enrolled in Payments Dispute Protection, which costs from 0.99% of card volume and covers disputes up to $10,000 each and $25,000 a year.
Not necessarily. Intuit's Free QuickBooks Online plan includes payments but limits you to two invoices a month, and Intuit also sells QuickBooks Money, a subscription-free account that bundles QuickBooks Payments with QuickBooks Checking and no accounting. To get unlimited invoices you need Lite at $20 a month, and to take in-person or recurring payments through QuickBooks Online you need Simple Start at $38.
The accounting and invoicing on the Starter plan are free with no time limit (receipt capture is an $11-a-month add-on); Wave makes its money when invoices are paid through it, at 2.9% + 60¢ on cards and 1% on bank payments. The optional Pro plan is $19 a month ($25 CAD) and mainly buys features — its fee relief is only the 60¢ waived on the first ten card transactions each month.
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