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APIs · head to head

Aiia vs TrueLayer

Aiia logo

Aiia

APIs

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

From
On request
Rated
-
Full reviewWebsite
TrueLayer logo

TrueLayer

APIs

Open banking payments and data across the UK and Europe, with the largest share of UK variable recurring payments

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.; TrueLayer variable recurring payments, the strongest reason to choose TrueLayer, is a UK construct, and European businesses expecting the same capability in their market will not get it on the same timetable.
  • They diverge on capability: Aiia covers Bank account data access, TrueLayer covers Pay by bank.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Aiia and TrueLayer actually diverge.

Attributes where Aiia and TrueLayer differ
AttributeAiiaTrueLayer
PlatformsWeb, APIWeb, iOS, Android

Identical on both: starting price (On request), pricing model (quote), free tier (No), 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
  • Payment initiation
  • Mastercard Open Finance integration
  • Modern authentication support
  • Developer documentation and sandbox

Only in TrueLayer

  • Pay by bank
  • Variable recurring payments
  • Payouts and refunds
  • Account information
  • Account name verification
  • Signup and KYC support
  • Hosted payment page

Both cover

  • Multi-country coverage

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 TrueLayer
  • A personal finance or accounting product needing transaction history across Nordic and European banksnot TrueLayer
  • A payments product wanting account-to-account payment initiation under open banking regulationnot TrueLayer
  • A business wanting the stability and continued investment of Mastercard ownership behind its banking connectivity providernot TrueLayer

TrueLayer

  • A UK subscription or top-up business that wants card-like recurring collection over bank rails using variable recurring paymentsnot Aiia
  • A trading or crypto platform funding accounts instantly by bank transfer where card deposits carry chargeback risknot Aiia
  • A marketplace paying sellers out to verified bank accounts with name checking to reduce misdirected paymentsnot Aiia
  • A lender verifying income and affordability from bank transaction data rather than uploaded statementsnot 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.

TrueLayer

  • Variable recurring payments, the strongest reason to choose TrueLayer, is a UK construct, and European businesses expecting the same capability in their market will not get it on the same timetable.
  • Payment conversion varies substantially by bank, and a bank with a slow or broken authentication journey drags results down regardless of vendor, so aggregate coverage numbers say little about your actual mix.
  • Pay by bank has no chargeback mechanism, which merchants like until a customer disputes a purchase and finds no scheme protection, making it a poor fit for categories where buyers expect card style recourse.
  • Pricing is unpublished and varies by market and product, so multi-country merchants cannot model cost without a full sales engagement and often find rates differ significantly between countries.
  • Open banking authentication requires the customer to leave the checkout and authorise in their banking app, and that redirect remains the largest source of drop-off compared with a stored card.

Pricing, plan by plan

Aiia

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

TrueLayer

On request
  • TrueLayer Payments and Data$undefined/year
    • Per-payment fees quoted by volume, market and product
    • Separate commercial terms for payment initiation, VRP and account information
    • Platform and minimum commitment terms negotiated per contract

Which should you pick?

Choose Aiia if

  • You need bank account data access.
  • You work on Web, API.
  • You also want payment initiation.
Aiia review

Choose TrueLayer if

  • You need pay by bank.
  • You work on Web, iOS, Android.
  • You also want variable recurring payments.
TrueLayer review

Questions people ask

Is Aiia or TrueLayer better?
Neither clearly leads. Aiia starts at On request and TrueLayer at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Aiia or TrueLayer?
Aiia starts at On request and TrueLayer at On request.
Does Aiia or TrueLayer run on more platforms?
Aiia runs on Web, API. TrueLayer runs on Web, iOS, Android.
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 TrueLayer is typically brought in for.
What can Aiia do that TrueLayer cannot?
Aiia covers Bank account data access, Payment initiation, Mastercard Open Finance integration, Modern authentication support. TrueLayer covers Pay by bank, Variable recurring payments, Payouts and refunds, Account information. Both handle Multi-country coverage.

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.

TrueLayer: Is VRP available outside the UK?

No. Variable recurring payments are a UK capability. EU adoption is on a slower path, with UK commercial VRP expanding into ecommerce during 2026.

Aiia: Does the Aiia brand still exist?

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

TrueLayer: What does TrueLayer cost?

Not published. Per-payment fees are quoted by volume, market and product, usually with a platform component and a minimum commitment.

Aiia: Which banks does it cover?

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

TrueLayer: Are there chargebacks on pay by bank?

No. Bank transfers have no card scheme chargeback mechanism, which removes that cost but also removes buyer recourse, so it suits some categories and not others.

TrueLayer: Which countries are covered?

The UK plus a substantial set of European markets under PSD2, though bank-level coverage and conversion vary by country and should be checked for your specific mix.

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