MAB eToken vs Wave Merchant
Price, ratings, monetisation and update history for both apps, side by side — with what reviewers say about each.
MAB eToken
This secure mobile app generates One Time Passwords (OTP) for authenticating digital banking transactions. It requires registration with a mobile number linked to the bank.
- Generate One Time Passwords (OTP)
- Securely authenticate banking transactions
- Internet and mobile banking support
- Mobile number validation registration
- OTP generation for transactions
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MAB eToken is a secure mobile application to generate One Time Password (OTP), which is used to securely authenticate MAB Digital Banking transactions through the internet & mobile applications. eToken application can be downloaded from apple store & register with one time mobile number validation registered with the bank. Next time onwards, eToken can be used to generate OTP for transaction authentication.
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.
- Dynamic QR code payments
- Real-time transaction history
- Business analytics
- Bank settlement
- Secure over-the-counter payments
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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
Verdict
The clearest difference is rating: MAB eToken at 5.0 against Wave Merchant's 4.2. MAB eToken also leads on iOS requirement (9.0 vs 13.0). Wave Merchant's advantage is ratings volume (10 vs 1). On price, update cadence, ads and in-app purchases 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
Both are free to download. Neither carries in-app purchases, so what you see is what you pay.
MAB eToken holds the better App Store score, 5.0 against 4.2. That said, the two scores are not equally well evidenced: Wave Merchant has 10 ratings behind it against 1, so its average is the more settled of the two.
Both ship on a similar rhythm, roughly every 4 months. The most recent releases landed on October 15, 2026 and October 4, 2026 respectively.
| Parameter | MAB eToken | Wave Merchant |
|---|---|---|
| Price | Free | Free |
| Rating | 5.0 (1 ratings) — better | 4.2 (10 ratings) |
| Positive reviews | — | 100.0% of reviews |
| Number of ratings | 1 | 10 — better |
| Update frequency | Every 4 months | Every 4 months |
| Ads | No | No |
| In-app purchases | No | No |
| Monetization | Free | Free |
| Devices | iPhone, iPad, iPod | iPhone, iPad, iPod |
| Requires iOS | 9.0 — better | 13.0 |
| Further details — not scored | ||
| Size | 76 MB | 69 MB |
| Age rating | 4+ | 17+ |
| Developer | Myanma Apex Bank Limited | Wave Money |
Customer experience
MAB eToken
Wave Merchant
In-app purchases
MAB eToken
No in-app purchases
Wave Merchant
No in-app purchases








