Frequently asked questions
What is Pay By Bank?
Think of it as a 21st-century version of direct debit. Consumers have the ability to pay directly through their bank (any bank in Australia) in the most secure and seamless way possible. Giving them more visibility and freedom of choice. No more card numbers, leaked personal information or sneaky interest fees. You are securely in control of how and when you pay both online and in stores.
How does Pay By Bank work?
Just select, connect and approve. It's that easy.
- Select Pay By Bank at checkout.
- Connect your bank account
- 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 and you will have the opportunity to check your balance as you pay.
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.
How is my data used when I Pay By Bank?
If you have any questions, please contact Waave via email at firstname.lastname@example.org or submit an enquiry at support.waave.com