Shopify vs Wave
A detailed, side-by-side comparison of Shopify and Wave. We compare features, pricing, ease of use, and value for money to help you make the right choice in 2026.
Reviewed by the Ikaroa team · Last updated: March 2026
Quick Verdict
Shopify edges ahead overall with a rating of 4.5/5. However, Wave (3.8/5) may be the better fit if you prioritise Freelancers and micro-businesses wanting genuinely free accounting and invoicing. Read on for the full breakdown.
Shopify vs Wave at a Glance
Shopify
★ 4.5Shopify is the world's leading e-commerce platform, powering millions of online stores globally. It provides everything needed to start, run, and grow an online business, from website building and product management to payment processing and shipping. Known for its ease of use and extensive app ecosystem.
Starting from: £24/month
Best for: Businesses wanting the easiest, most complete e-commerce platform with massive app ecosystem
Read full review →Wave
★ 3.8Wave is a genuinely free accounting platform for small businesses. It offers invoicing, accounting, receipt scanning, and financial reporting at no cost. Wave makes money through optional paid services like payroll, payments processing, and bookkeeping. Ideal for freelancers and micro-businesses on a tight budget.
Starting from: £0/month
Best for: Freelancers and micro-businesses wanting genuinely free accounting and invoicing
Read full review →Shopify vs Wave Feature Comparison
Here is how Shopify and Wave compare across the features that matter most. We have tested both platforms extensively across client implementations.
| Feature | Shopify | Wave |
|---|---|---|
| Free Plan Available | No | Yes |
| Starting Price | £24/month | £0/month |
| Best For | Businesses wanting the easiest, most complete e-commerce platform with massive app ecosystem | Freelancers and micro-businesses wanting genuinely free accounting and invoicing |
| Our Rating | 4.5/5 | 3.8/5 |
| Mobile App | Yes | Limited |
| Email Marketing | No | No |
| Automation | Limited | Limited |
| Reporting | Basic | Yes |
| Integrations | Limited | Limited |
| API Access | Limited | Limited |
| Ikaroa Exclusive Discount | N/A | N/A |
Shopify vs Wave Pricing
Pricing is often the deciding factor. Here is a full breakdown of what each platform charges at every tier:
Shopify Pricing
Basic
£24/month
- ✓Online store
- ✓Unlimited products
- ✓2 staff accounts
- ✓Basic reports
Shopify
£59/month
- ✓Everything in Basic
- ✓5 staff accounts
- ✓Professional reports
- ✓Lower card rates
Advanced
£289/month
- ✓Everything in Shopify
- ✓15 staff accounts
- ✓Custom reports
- ✓Lowest card rates
Shopify Plus
From £1,750/month
- ✓Enterprise features
- ✓Unlimited staff
- ✓Dedicated support
- ✓Customisable checkout
Wave Pricing
Free
£0/month
- ✓Unlimited invoicing
- ✓Accounting
- ✓Receipt scanning
- ✓Financial reports
Pro (Payments)
2.9% + 30p per transaction
- ✓Online payments
- ✓Bank payments
- ✓Recurring billing
Pro (Payroll)
£16/month + £5/employee
- ✓Self-service payroll
- ✓Direct deposits
- ✓Tax filings
Not sure which to pick?
Our team has implemented both Shopify and Wave for clients. We can help you decide based on your specific needs.
Shopify Pros and Cons
✓Pros
- •Easiest e-commerce platform to use
- •Massive app ecosystem (8,000+ apps)
- •Excellent payment processing (Shopify Payments)
- •Scales from small to enterprise
- •Strong SEO capabilities
✗Cons
- •Transaction fees if not using Shopify Payments
- •Monthly costs add up with apps
- •Limited customisation without coding
- •Content management is basic compared to WordPress
- •Migrating away is difficult
Wave Pros and Cons
✓Pros
- •Completely free for core accounting and invoicing
- •No user or feature limits on free plan
- •Easy to learn for beginners
- •Receipt scanning via mobile app
- •No trial period or hidden fees for core features
✗Cons
- •Revenue comes from payment processing fees
- •No inventory management
- •Limited integrations
- •No project tracking or time tracking
- •Payroll only available in US and Canada
Our Verdict: Shopify vs Wave
Both Shopify and Wave are solid options, but they serve different needs. Having implemented both for multiple clients, here is our recommendation:
Choose Shopify if you need Businesses wanting the easiest, most complete e-commerce platform with massive app ecosystem. With a starting price of £24/month and a rating of 4.5/5, it offers easiest e-commerce platform to use.
Choose Wave if you need Freelancers and micro-businesses wanting genuinely free accounting and invoicing. Starting at £0/month with a 3.8/5 rating, it excels at completely free for core accounting and invoicing.
Still not sure? Talk to the Ikaroa team. We have helped hundreds of businesses make this exact decision, and we are happy to point you in the right direction.
🎁 Get either product at a discount through Ikaroa Partners
Consider Open Doors Instead
Why choose between Shopify and Wave? Open Doors gives you the best features of both in one platform, for less. It is an all-in-one CRM with email marketing, SMS, funnels, booking, invoicing, automation, and more, starting at just £97/month with unlimited contacts.
Need implementation help?
Ikaroa can set up Shopify or Wave for your business, migrate your data, and train your team. We have done it dozens of times.
Free consultation. No obligation.