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APIs · head to head

AWS API Gateway vs Token.io

AWS API Gateway logo

AWS API Gateway

APIs

Fully managed API gateway service for creating and managing APIs at scale

From
Free
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

  • Only AWS API Gateway has a free tier, so it costs nothing to try first.
  • Each has a real cost: AWS API Gateway rEST APIs cost $3.50 per million calls against $1.00 for HTTP APIs, so the older and more featureful type is three and a half times dearer; 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: AWS API Gateway covers REST APIs, Token.io covers Payment initiation.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which AWS API Gateway and Token.io actually diverge.

Attributes where AWS API Gateway and Token.io differ
AttributeAWS API GatewayToken.io
Starting priceFreeOn request
Pricing modelusage-basedquote
Free tierYesNo
PlatformsAWS CloudWeb, API
Founded2006Unknown

Identical on both: 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 AWS API Gateway

  • REST APIs
  • WebSocket APIs
  • HTTP APIs
  • Lambda
  • EC2
  • DynamoDB
  • CloudWatch
  • IAM

Only in Token.io

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

What people use each for

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

AWS API Gateway

  • Fronting Lambda functions with an HTTP endpointnot Token.io
  • REST and HTTP API management with throttling and keysnot Token.io
  • WebSocket APIs for real-time clientsnot Token.io
  • Private APIs reachable only inside a VPCnot Token.io
  • Publishing a developer portal for API consumersnot Token.io

Token.io

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

Where each one falls short

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

AWS API Gateway

  • REST APIs cost $3.50 per million calls against $1.00 for HTTP APIs, so the older and more featureful type is three and a half times dearer
  • Data transfer out is charged at $0.09 per GB on top of request pricing
  • WebSocket APIs bill connection minutes as well as messages, at $0.25 per million minutes
  • Private APIs avoid data transfer charges but incur AWS PrivateLink costs instead
  • The developer portal is $125 a month, with additional portal products at $12.50 each
  • The free tier lasts 12 months rather than being ongoing

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

AWS API Gateway

Free
  • Free Tier (12 months)Free
    • 1M REST API calls per month
    • 1M HTTP API calls per month
    • 1M WebSocket messages plus 750K connection minutes per month
  • HTTP APIs$1/per million requests (first 300M)
    • First 300M: $1.00 per million
    • Next 132M: $0.90 per million
    • Data transfer varies by volume
  • REST APIs$3.5/per million API calls
    • Edge Optimized and Regional: $3.50 per million (first tier)
    • Higher volumes: $2.80 then $2.38 per million
    • Data transfer: $0.09 per GB
  • WebSocket APIs$1/per million messages
    • Messages: $1.00 per million
    • Connection minutes: $0.25 per million minutes

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 AWS API Gateway if

  • You need rest apis.
  • You want to start without paying.
  • You work on AWS Cloud.
  • You also want websocket apis.
AWS API Gateway review

Choose Token.io if

  • You need payment initiation.
  • You work on Web, API.
  • You also want variable recurring payments.
Token.io review

Questions people ask

Is AWS API Gateway or Token.io better?
Neither clearly leads. AWS API Gateway starts at Free and Token.io at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, AWS API Gateway or Token.io?
AWS API Gateway has a free tier; the other does not. Paid plans start at Free for AWS API Gateway and On request for Token.io.
Does AWS API Gateway or Token.io run on more platforms?
AWS API Gateway runs on AWS Cloud. Token.io runs on Web, API.
Can I use AWS API Gateway for free?
Yes. AWS API Gateway has a free tier, so you can try it without paying. Token.io starts at On request.
What is AWS API Gateway best used for?
AWS API Gateway is most often used for fronting lambda functions with an http endpoint, rest and http api management with throttling and keys, websocket apis for real-time clients, private apis reachable only inside a vpc. Of those, fronting lambda functions with an http endpoint and rest and http api management with throttling and keys are not what Token.io is typically brought in for.
What can AWS API Gateway do that Token.io cannot?
AWS API Gateway covers REST APIs, WebSocket APIs, HTTP APIs, Lambda. Token.io covers Payment initiation, Variable recurring payments, Bank network coverage, giroAPI membership.

Answered from the vendors’ own pages

AWS API Gateway: How much does AWS API Gateway cost?

AWS API Gateway pricing varies by API type. HTTP APIs cost $1.00 per million requests for the first 300M monthly, then $0.90 per million. REST APIs cost $3.50 per million, and WebSocket APIs cost $1.00 per million messages plus $0.25 per million connection minutes. Data transfer charges ($0.09 per GB) apply separately.

Source
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.

AWS API Gateway: Is AWS API Gateway free?

New AWS customers receive 12 months of free tier access including 1 million REST API calls, 1 million HTTP API calls, and 1 million WebSocket messages plus 750,000 connection minutes per month. Starting July 15, 2025, new customers receive up to $200 in AWS Free Tier credits.

Source
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.

AWS API Gateway: What is the price difference between HTTP and REST APIs?

HTTP APIs are significantly cheaper at $1.00 per million requests compared to REST APIs at $3.50 per million (first tier). REST API pricing decreases to $2.80 and $2.38 per million for higher volumes, while HTTP API pricing drops to $0.90 per million after 300M monthly requests.

Source
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.

AWS API Gateway: How much does an API Gateway Portal cost?

API Gateway Portals require a base fee of $125 per month (includes 10 PortalProducts with 40 endpoints each) plus $12.50 per month for each additional PortalProduct beyond the included 10.

Source
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