Softwr

APIs · head to head

Aiia vs Token.io

Aiia logo

Aiia

APIs

Open banking and open finance API platform, now operating as Mastercard Open Banking

From
On request
Rated
-
Full reviewWebsite
Token.io logo

Token.io

APIs

Account to account pay by bank infrastructure across the UK and Europe

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Aiia it is now part of Mastercard rather than an independent company, so a business specifically wanting to avoid card network dependency in its banking infrastructure no longer gets that separation by choosing Aiia.; Token.io account to account payments carry no chargeback scheme, so merchants gain cost savings but consumers lose the dispute protection cards provide, which limits adoption in general retail.
  • They diverge on capability: Aiia covers Bank account data access, Token.io covers Variable recurring payments.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Aiia and Token.io actually diverge.

Attributes where Aiia and Token.io differ
AttributeAiiaToken.io

Identical on both: starting price (On request), pricing model (quote), free tier (No), platforms (Web, API), user rating (Not yet rated), category (APIs).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Aiia

  • Bank account data access
  • Mastercard Open Finance integration
  • Modern authentication support
  • Multi-country coverage
  • Developer documentation and sandbox

Only in Token.io

  • Variable recurring payments
  • Bank network coverage
  • giroAPI membership
  • Payouts and refunds
  • Data and account information
  • Hosted payment pages
  • Reconciliation reporting

Both cover

  • Payment initiation

What people use each for

The jobs each tool is most often brought in to do.

Aiia

  • A lending or credit product needing affordability checks via European bank account datanot Token.io
  • A personal finance or accounting product needing transaction history across Nordic and European banksnot Token.io
  • A payments product wanting account-to-account payment initiation under open banking regulationnot Token.io
  • A business wanting the stability and continued investment of Mastercard ownership behind its banking connectivity providernot Token.io

Token.io

  • A utility or telecom collecting high value bills where card interchange makes acceptance expensivenot Aiia
  • An investment or trading platform funding customer accounts without card chargeback exposurenot Aiia
  • A payment service provider adding pay by bank to its merchant proposition without building bank connectivitynot Aiia
  • A German merchant using giroAPI scheme access for recurring and future dated bank paymentsnot Aiia

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Aiia

  • It is now part of Mastercard rather than an independent company, so a business specifically wanting to avoid card network dependency in its banking infrastructure no longer gets that separation by choosing Aiia.
  • Pricing is not published and requires engaging Mastercard's open finance sales process, which can be a heavier sales motion than dealing with a smaller independent open banking provider.
  • Its strongest bank coverage remains concentrated in the Nordics and Northern Europe, so companies needing dense coverage in Southern or Eastern Europe should verify current bank connectivity before committing.
  • Brand confusion is real: developer documentation, login portals and older case studies still reference "Aiia" while newer Mastercard material refers to "Mastercard Open Banking," and a company researching either name in isolation may miss half the relevant material.
  • As with any open banking platform, reliability still depends on the consistency of the underlying banks' own APIs, which is a systemic industry issue rather than something Aiia specifically controls.

Token.io

  • Account to account payments carry no chargeback scheme, so merchants gain cost savings but consumers lose the dispute protection cards provide, which limits adoption in general retail.
  • Conversion depends on each bank's own authentication journey, and slow or broken bank redirects cost sales in ways the merchant cannot fix or even always diagnose.
  • Variable recurring payments beyond sweeping are still being rolled out unevenly across banks and markets, so a subscription use case may be supported at one bank and not another.
  • Token.io initiates payments rather than acting as acquirer of record, so merchants still need settlement, safeguarding and reconciliation arrangements elsewhere.
  • Coverage and feature parity vary by country, so a pan European rollout means different capabilities and different bank behaviour in each market rather than one uniform product.

Pricing, plan by plan

Aiia

On request
  • Aiia Enterprise (Mastercard Open Banking)$undefined/year
    • Pricing not published, quote via Mastercard Open Finance sales

Token.io

On request
  • Token.io platform$undefined/year
    • Quoted per customer, typically per initiated payment
    • Volume tiers and monthly minimums are common
    • No interchange, so unit cost is usually well below card acceptance

Which should you pick?

Choose Aiia if

  • You need bank account data access.
  • You work on Web, API.
  • You also want mastercard open finance integration.
Aiia review

Choose Token.io if

  • You need variable recurring payments.
  • You work on Web, API.
  • You also want bank network coverage.
Token.io review

Questions people ask

Is Aiia or Token.io better?
Neither clearly leads. Aiia starts at On request and Token.io at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Aiia or Token.io?
Aiia starts at On request and Token.io at On request.
Does Aiia or Token.io run on more platforms?
Both run on Web, API, so platform support will not decide this one for you.
What is Aiia best used for?
Aiia is most often used for a lending or credit product needing affordability checks via european bank account data, a personal finance or accounting product needing transaction history across nordic and european banks, a payments product wanting account-to-account payment initiation under open banking regulation, a business wanting the stability and continued investment of mastercard ownership behind its banking connectivity provider. Of those, a lending or credit product needing affordability checks via european bank account data and a personal finance or accounting product needing transaction history across nordic and european banks are not what Token.io is typically brought in for.
What can Aiia do that Token.io cannot?
Aiia covers Bank account data access, Mastercard Open Finance integration, Modern authentication support, Multi-country coverage. Token.io covers Variable recurring payments, Bank network coverage, giroAPI membership, Payouts and refunds. Both handle Payment initiation.

Answered from the vendors’ own pages

Aiia: Is Aiia still an independent company?

No, it was acquired by Mastercard in 2021 and now operates as part of Mastercard Open Finance Solutions, referenced as Aiia Enterprise.

Token.io: Does pay by bank remove card fees?

It removes interchange and scheme fees, so unit cost is normally far below card acceptance, particularly on high value payments.

Aiia: Does the Aiia brand still exist?

Yes, in developer documentation and login portals, but the company behind it is Mastercard.

Token.io: What about chargebacks?

There are none. That is the cost saving and the consumer protection gap, which is why it suits bills, top ups and account funding more than retail.

Aiia: Which banks does it cover?

Around 3,000 European banks, with strongest coverage in the Nordics and Northern Europe.

Token.io: Is Token.io regulated?

Yes, it is an authorised third party provider under UK and European open banking rules, but it initiates payments rather than holding merchant funds as an acquirer.

Share

Related pages

More on Aiia

More on Token.io

Keep looking

Other head to heads