Comparison

MAB eToken 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

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.

Highlights
  • Generate One Time Passwords (OTP)
  • Securely authenticate banking transactions
  • Internet and mobile banking support
  • Mobile number validation registration
  • OTP generation for transactions
Features
Read full description

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.

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

MAB eToken4 screens
Wave Merchant4 screens

Verdict

The call

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

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

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.

UpkeepUpdate frequency

Both ship on a similar rhythm, roughly every 4 months. The most recent releases landed on October 15, 2026 and October 4, 2026 respectively.

Scorecard3 real differences · 7 level
MAB eToken versus Wave Merchant: the parameters behind the verdict, then further details
ParameterMAB eTokenWave Merchant
PriceFreeFree
Rating5.0 (1 ratings) — better4.2 (10 ratings)
Positive reviews—100.0% of reviews
Number of ratings110 — better
Update frequencyEvery 4 monthsEvery 4 months
AdsNoNo
In-app purchasesNoNo
MonetizationFreeFree
DevicesiPhone, iPad, iPodiPhone, iPad, iPod
Requires iOS9.0 — better13.0
Further details — not scored
Size76 MB69 MB
Age rating4+17+
DeveloperMyanma Apex Bank LimitedWave Money

Customer experience

MAB eToken

All ratings1 ratings
Positive100.0%
Neutral0.0%
Negative0.0%

Wave Merchant

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

In-app purchases

None

MAB eToken

No in-app purchases

None

Wave Merchant

No in-app purchases

Questions

Is MAB eToken free?
MAB eToken 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, MAB eToken or Wave Merchant?
MAB eToken is rated higher. MAB eToken averages 5.0 out of 5 from 1 ratings, while Wave Merchant averages 4.2 from 10 ratings.
Do MAB eToken or Wave Merchant have ads?
Neither MAB eToken nor Wave Merchant shows ads.
Which is updated more often, MAB eToken or Wave Merchant?
MAB eToken ships an update every 4 months, and Wave Merchant every 4 months. Most recently, MAB eToken was updated on October 15, 2026 and Wave Merchant on October 4, 2026.

Other comparisons