The nucleosynthesis occurring in type-I X-ray bursts (XRBs) and the respective energy released in these thermonuclear explosions are sensitive to nuclear masses and reaction rates around the 64 Ge waiting point. Based on the recently measured masses of 64 Ge and 65 As, the deduced proton separation energies S p ( 65 As) and S p ( 66 Se), and nuclear structure information from large-scale shell model calculations, we have obtained new reaction rates of 64 Ge(p, γ) 65 As and 65 As(p, γ) 66 Se with reliable uncertainties. Our new thermonuclear reaction rate of 64 Ge(p, γ) 65 As differs from those available in REACLIB by up to two orders of magnitude at temperature range associated with type-I X-ray bursts. We evaluated the impact of these new rates, particularly the energy generation and the burst light curve, with self-consistent one-zone model [Schatz et al. Phys. Rev. Lett. 86 (2001) 3471]. Also, we identified the nuclear physics uncertainties determining the role of the 64 Ge to be a waiting point in XRBs, and strongly affecting XRB model predictions of the synthesis of 64 Zn and the synthesis of nuclei A ≥ 64.