Case Study: Wave achieves faster ACH payouts and major fraud reduction with Plaid

Wave - Customer Case Study

Wave, a Toronto-based provider of free accounting, invoicing, payments, and payroll software for micro-businesses, needed to simplify how customers accept bank (ACH) payments and aggregate financial data from banks. To make ACH as easy as paying with a card and reduce errors and fraud in manual entry, Wave launched an ACH bank payments experience in 2017 powered by Plaid.

Plaid’s account-authentication solution connects to major Canadian and U.S. banks to let payers securely link accounts in seconds, improving speed and reliability for Wave customers. The Plaid integration has cut payer entry mistakes by 5.6x, reduced confirmed fraud by about 60%, and enabled Wave to settle nearly 90% of ACH payments within two business days, delivering faster, safer payments and fewer investigations for Wave.

Wave

Mani Fazeli

Senior Vice President of Product