# MAB eToken vs Wave Merchant

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.

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.

## The numbers

| Metric | MAB eToken | Wave Merchant |
| --- | --- | --- |
| Price | Free | Free |
| Rating | **[5.0 (1 ratings)](https://appshunter.io/ios/app/mab-etoken/id1643467745/reviews)** | [4.2 (10 ratings)](https://appshunter.io/ios/app/wave-merchant/id6456263921/reviews) |
| Number of ratings | 1 | **10** |
| Positive reviews | — | 100.0% of reviews |
| In-app purchases | No | No |
| Ads | No | No |
| Update frequency | Every 4 months | Every 4 months |
| Monetization | Free | Free |
| Size | 76 MB | 69 MB |
| Requires iOS | **9.0** | 13.0 |
| Devices | iPhone, iPad, iPod | iPhone, iPad, iPod |
| Age rating | 4+ | 17+ |
| Developer | [Myanma Apex Bank Limited](https://appshunter.io/developer/1305732458) | [Wave Money](https://appshunter.io/developer/1234535228) |

## What reviewers say

### MAB eToken

[App page](https://appshunter.io/ios/app/mab-etoken/id1643467745)

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:** macOS Compatibility

**In-app purchases:** none


### Wave Merchant

[App page](https://appshunter.io/ios/app/wave-merchant/id6456263921)

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:** macOS Compatibility, Vision Pro support

**In-app purchases:** none


## Frequently asked 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.

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*Compared by [AppsHunter](https://appshunter.io/) from daily US App Store data. Review summaries are generated from verbatim App Store reviews.*