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October 08, 2019

Wave helps micro-businesses grow

Reed McGinley-Stempel

Updated on October 14, 2019

Wave believes that no small business should fail because they don’t understand their finances.

It’s a pressing need. All told, there are 31 million small businesses in North America; collectively, they employ more than 65 million people. But more than 50% of those companies will fail in their first five years—often because they don’t know how to manage their money.

To help them succeed, Wave provides accounting, invoicing, payments, and payroll software on a comprehensive platform built specifically for small businesses. The Toronto-based company believes that cost shouldn’t be an issue, so they provide many of their products for free.

One problem Wave solves for their customers is payments. They know that small business owners want to get paid fast and through the method of their choice. With Wave, they can accept both credit card and ACH (bank payments) through online invoices.

In 2017, Wave launched their ACH bank payments experience, powered by Plaid data. Their goal was simple: make ACH as easy as paying with a credit card.