Comparison

Mandalay Smart Pay vs Wave Merchant

Price, ratings, monetisation and update history for both apps, side by side — with what reviewers say about each.

Head to head
About

Mandalay Smart Pay

This app offers a convenient mobile solution for shopping, bill payments, and fund transfers. It allows users to pay via QR codes, send money to contacts, top up mobile balances, and cash out at agents. Users can also verify transactions and receive instant rewards.

Highlights
  • QR code payments for shopping
  • Bill payment for services
  • Money transfer to contacts
  • Mobile balance top-up
  • Cash withdrawal at agents
  • Transaction verification
  • Instant cash rewards
Features
Read full description

MSP The smart way to shop, pay and transfer funds. Experience the convenience of shopping, dining, bill payments and so much more with your mobile phone. MSP has more than 10 unique features including: Shop - Scan the seller's QR code or display your payment QR code to pay. Pay bills from government services or online purchases. Easily transfer money to your friends and family via QR code or mobile number. Allow others to scan your QR code to receive money in your mobile wallet. Top-up your mobile balance and purchase mobile prepaid PIN using the eLoad function. Add Money to your wallets via MPU card or 1-2-3 service. Cash-out - withdraw cash at agents and banks nationwide. Verify the authenticity of a transaction by scanning ‘Verify QR code’ on the transaction slip. Enjoy instant cash rewards for every mobile eLoad transaction. Check transaction history; live chat with our customer service officers 24/7 using the chat feature in the app.

About

Wave Merchant

This app provides merchants with a secure platform for managing online payments and tracking transactions. It offers features like dynamic QR code payments, real-time transaction history, and business analytics to help businesses streamline their financial operations.

Highlights
  • Dynamic QR code payments
  • Real-time transaction history
  • Business analytics
  • Bank settlement
  • Secure over-the-counter payments
Features
Read full description

Fast, Easy, and Safe Online Payments - Myanmar's Leading Mobile Financial Service. Introduced by Wave Money, the Wave Merchant app brings fast, easy, and secure over-the-counter payment solutions not only for merchants and shops to track each transaction and analyze financial data but also for customers to make payments easier and more convenient. The app includes the following features: Dynamic QR: Customers can now enjoy the most convenient "Scan and Pay" functionality. The cashier keys in the specific payment amount, and customers can effortlessly and conveniently complete their payment by scanning the Dynamic QR code provided by the Wave Merchant app. Real-Time Transaction History Detail & Analytics: Merchants receive real-time transaction notifications and gain access to detailed transaction information. Additionally, the app provides a business analytics tool, allowing merchants to view their total transactions, sales, average daily transactions, average daily sales, etc. Bank Settlement: Merchants can seamlessly settle payments to their linked bank accounts. The app facilitates both cashing into the linked bank account and cashing out from it.

Screenshots

Mandalay Smart Pay4 screens
Wave Merchant4 screens

Verdict

The call

Mandalay Smart Pay and Wave Merchant both sit at 4.3 stars, but that hides the real split: 100% of Wave Merchant's written reviews are positive against 80% of Mandalay Smart Pay's. Wave Merchant also leads on iOS requirement (13.0 vs 15.6). Mandalay Smart Pay's advantage is ratings volume (110 vs 10). On price, rating, update cadence and ads there is nothing between them.

Scored on Price · Rating · Positive reviews · Number of ratings · Update frequency · Ads · In-app purchases · Monetization · Best chart rank · Devices · Requires iOS

CostPrice · In-app purchases · Ads · Monetization

Both are free to download. Neither carries in-app purchases, so what you see is what you pay.

ReceptionRating · Positive reviews · Number of ratings

On the App Store both sit at effectively the same score — 4.3 for Mandalay Smart Pay against 4.2 for Wave Merchant. That said, the two scores are not equally well evidenced: Mandalay Smart Pay has 110 ratings behind it against 10, so its average is the more settled of the two. Written reviews are what separate them: 80% of Mandalay Smart Pay's written reviews are positive against 100% of Wave Merchant's.

UpkeepUpdate frequency

Mandalay Smart Pay ships an update every 3 months, Wave Merchant every 4 months. Both last shipped on November 3, 2026.

Scorecard3 real differences · 7 level
Mandalay Smart Pay versus Wave Merchant: the parameters behind the verdict, then further details
ParameterMandalay Smart PayWave Merchant
PriceFreeFree
Rating4.3 (110 ratings) — better4.2 (10 ratings)
Positive reviews80.0% of reviews100.0% of reviews — better
Number of ratings110 — better10
Update frequencyEvery 3 months — betterEvery 4 months
AdsNoNo
In-app purchasesNoNo
MonetizationFreeFree
DevicesiPhone, iPodiPhone, iPad, iPod — better
Requires iOS15.613.0 — better
Further details — not scored
Size109 MB69 MB
Age rating4+17+
DeveloperINNOVIX SOLUTIONS CO., LTDWave Money

Customer experience

Mandalay Smart Pay

All ratings110 ratings
Positive80.9%
Neutral7.3%
Negative11.8%
Written reviews5 reviews
Positive80.0%
Neutral0.0%
Negative20.0%

Wave Merchant

All ratings10 ratings
Positive80.0%
Neutral0.0%
Negative20.0%
Written reviews1 reviews
Positive100.0%
Neutral0.0%
Negative0.0%

In-app purchases

None

Mandalay Smart Pay

No in-app purchases

None

Wave Merchant

No in-app purchases

Questions

Is Mandalay Smart Pay free?
Mandalay Smart Pay is free to download, with no in-app purchases.
Is Wave Merchant free?
Wave Merchant is free to download, with no in-app purchases.
Which has better reviews, Mandalay Smart Pay or Wave Merchant?
Mandalay Smart Pay is rated higher. Mandalay Smart Pay averages 4.3 out of 5 from 110 ratings, while Wave Merchant averages 4.2 from 10 ratings.
Do Mandalay Smart Pay or Wave Merchant have ads?
Neither Mandalay Smart Pay nor Wave Merchant shows ads.
Which is updated more often, Mandalay Smart Pay or Wave Merchant?
Mandalay Smart Pay ships an update every 3 months, and Wave Merchant every 4 months. Most recently, Mandalay Smart Pay was updated on November 3, 2026 and Wave Merchant on November 3, 2026.

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