Sydney fintech Waave, which delivers account-to-account payments or Pay By Bank, has been acquired by UK based Banked. Waave raised Au $4.7 million in a seed round a year ago. Waave charges a flat fee per transaction, making it up to 80% cheaper than Visa or Mastercard. Waave already works with works with cashback platform ShopBack and retailers Harris Farm Markets, Temple & Webster, Baby Bunting and Princess Polly with other retailers implementing Waave including Oz Hair and Beauty, Mr Vitamins, PUSHAS and Chemist Warehouse.