APIs · head to head
Basis Theory vs Vodeno
Basis Theory
APIs
Developer tokenisation platform that holds card and sensitive data inside a PCI Level 1 environment you do not operate
- From
- $995/month
- Rated
- -
Vodeno
APIs
Banking-as-a-service platform running on a partner bank licence, backing NatWest's UK BaaS venture
- From
- On request
- Rated
- -
The short version
- Each has a real cost: Basis Theory the Starter plan is 995 US dollars a month before any volume, which is a real floor for an early stage company and puts the product out of reach of teams tokenising a few thousand records.; Vodeno its actual regulatory backing differs by geography, Aion Bank in continental Europe versus NatWest in the UK, so a customer must understand which entity and licence they are actually contracting under rather than assuming one uniform Vodeno product.
- They diverge on capability: Basis Theory covers Tokenisation API, Vodeno covers Core banking infrastructure.
- Prices and features above were last checked on 1 September 2026.
Where they differ
Only the attributes on which Basis Theory and Vodeno actually diverge.
| Attribute | Basis Theory | Vodeno |
|---|---|---|
| Starting price | $995/month | On request |
| Pricing model | Per month by token volume | quote |
| Platforms | Web, iOS, Android, Linux | Web, API |
Identical on both: 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 Basis Theory
- Tokenisation API
- Hosted elements
- Outbound proxy
- PCI attestation of compliance
- Processor portability
- Reactors
- Access controls and audit
- PII and PHI options
Only in Vodeno
- Core banking infrastructure
- Card issuance via Mastercard
- Lending and BNPL modules
- White-label mobile apps
- Digital onboarding and compliance
- UK entity backed by NatWest
What people use each for
The jobs each tool is most often brought in to do.
Basis Theory
- A payments company that wants card on file without bringing its own infrastructure into PCI scope and paying for the assessment that followsnot Vodeno
- A merchant locked into a processor by that processor vault that wants to hold its own tokens and route to more than one acquirernot Vodeno
- A fintech collecting bank account and identity data that needs it isolated from its application database before an enterprise security reviewnot Vodeno
- A team that needs to send stored card data to a third party for a one-off integration without that data traversing its own serversnot Vodeno
Vodeno
- A European retailer or e-commerce business wanting to embed savings, lending or BNPL products under its own brandnot Basis Theory
- A UK business wanting banking-as-a-service backed specifically by NatWest's banking technology and licencenot Basis Theory
- A fintech wanting white-label mobile banking app infrastructure rather than building its own from scratchnot Basis Theory
- A company comparing banking-as-a-service providers that want to understand which underlying bank licence actually backs the product in their marketnot Basis Theory
Where each one falls short
Documented limitations, not opinions. Every one is a constraint you would hit in normal use.
Basis Theory
- The Starter plan is 995 US dollars a month before any volume, which is a real floor for an early stage company and puts the product out of reach of teams tokenising a few thousand records.
- Starter is limited to the US region, so a company with European data residency requirements is pushed into a quoted Scale or Enterprise agreement immediately.
- Log retention on Starter is 24 hours, which is well below what most security teams expect for a system holding cardholder data and forces an upgrade for reasons unrelated to volume.
- Migrating away means moving card data out of the vault, which requires processor and assessor involvement and is slow, so the portability argument that attracts buyers cuts against them at exit.
- An attestation of compliance covers the vendor environment, not your assessment; your assessor still decides what is in scope, and buyers occasionally discover their integration pattern pulled systems back into scope anyway.
Vodeno
- Its actual regulatory backing differs by geography, Aion Bank in continental Europe versus NatWest in the UK, so a customer must understand which entity and licence they are actually contracting under rather than assuming one uniform Vodeno product.
- Pricing is entirely unpublished across both the European and UK businesses.
- The scale of NatWest's investment (up to roughly £120 million) signals a business still working toward profitability, with NatWest itself targeting breakeven within five years of the venture launching, which is a meaningful timeline risk for a customer building long-term infrastructure dependency on it.
- As banking-as-a-service infrastructure, any customer remains dependent on Vodeno's underlying bank partner maintaining its own licence and risk appetite, which is a layer of dependency beyond Vodeno's own commercial terms.
- Product scope, such as lending and BNPL availability, may differ between the UK and European entities, so a company operating in both markets should not assume identical capability across the two.
Pricing, plan by plan
Basis Theory
$995/month- Starter$995/month
- 20,000 tokens included
- Production PCI Level 1 environment
- US region only
- Scale$undefined/month
- Quoted
- Higher token volumes
- Additional regions
- Enterprise$undefined/month
- Quoted
- Additional compliance options for PII and PHI
- Responses for 95 percent of PCI SAQ D
Vodeno
On request- Vodeno$undefined/year
- Platform licensing fee, not published
- Terms differ between the European (Aion Bank) and UK (NatWest) entities
Which should you pick?
Choose Basis Theory if
- You need tokenisation api.
- You work on Web, iOS, Android, Linux.
- You also want hosted elements.
Choose Vodeno if
- You need core banking infrastructure.
- You work on Web, API.
- You also want card issuance via mastercard.
Questions people ask
- Is Basis Theory or Vodeno better?
- Neither clearly leads. Basis Theory starts at $995/month and Vodeno at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
- Which is cheaper, Basis Theory or Vodeno?
- Basis Theory starts at $995/month and Vodeno at On request.
- Does Basis Theory or Vodeno run on more platforms?
- Basis Theory runs on Web, iOS, Android, Linux. Vodeno runs on Web, API.
- What is Basis Theory best used for?
- Basis Theory is most often used for a payments company that wants card on file without bringing its own infrastructure into pci scope and paying for the assessment that follows, a merchant locked into a processor by that processor vault that wants to hold its own tokens and route to more than one acquirer, a fintech collecting bank account and identity data that needs it isolated from its application database before an enterprise security review, a team that needs to send stored card data to a third party for a one-off integration without that data traversing its own servers. Of those, a payments company that wants card on file without bringing its own infrastructure into pci scope and paying for the assessment that follows and a merchant locked into a processor by that processor vault that wants to hold its own tokens and route to more than one acquirer are not what Vodeno is typically brought in for.
- What can Basis Theory do that Vodeno cannot?
- Basis Theory covers Tokenisation API, Hosted elements, Outbound proxy, PCI attestation of compliance. Vodeno covers Core banking infrastructure, Card issuance via Mastercard, Lending and BNPL modules, White-label mobile apps.
Answered from the vendors’ own pages
Basis Theory: Does this make us PCI compliant?
It removes cardholder data from your systems and gives you an AOC plus documented responses for most of a SAQ D. Your assessor still determines your scope, and a careless integration can pull systems back in.
Vodeno: Does Vodeno hold its own banking licence?
No, it operates through partner banks, Aion Bank in continental Europe and NatWest in the UK.
Basis Theory: What does it cost to start?
995 US dollars a month on Starter, including 20,000 tokens, a production PCI Level 1 environment and US hosting. Higher tiers are quoted.
Vodeno: Is the UK business the same as the European business?
They are related but distinct entities backed by different bank partners, with different investment structures.
Basis Theory: Can we switch payment processors without re-collecting cards?
Yes, that is the main non-compliance reason to buy it. You hold the tokens and detokenise into whichever processor you route to.
Vodeno: How much has NatWest invested?
A capped commitment of up to roughly £120 million into the UK entity, plus a separate roughly €58 million investment in Vodeno Group for an 18% stake.
Basis Theory: Is data stored outside the United States?
Not on Starter, which is US only. Other regions require a Scale or Enterprise agreement.
Related pages
More on Basis Theory
Other head to heads
- Basis Theory vs Skyflow
- Basis Theory vs Increase
- Basis Theory vs Lithic
- Basis Theory vs Volt
- Basis Theory vs Swan
- Basis Theory vs Moov
- Basis Theory vs Trustly
- Basis Theory vs TrueLayer
- Basis Theory vs Paymentology
- Basis Theory vs Akoya
- Basis Theory vs Sila
- Basis Theory vs Backbase
- Basis Theory vs Enfuce
- Basis Theory vs Griffin
- Basis Theory vs Stoplight
- Basis Theory vs Mambu
- Basis Theory vs Tuum
- Basis Theory vs Treasury Prime
- Basis Theory vs Unit
- Basis Theory vs Solaris
- Basis Theory vs Fintech Farm
- Basis Theory vs Weavr
- Basis Theory vs Synctera
- Basis Theory vs Astra
- Basis Theory vs Microsoft Azure API Management
- Basis Theory vs Boomi API Management
- Basis Theory vs Codat
- Basis Theory vs curl
- Vodeno vs Skyflow
- Vodeno vs Increase
- Vodeno vs Lithic
- Vodeno vs Volt
- Vodeno vs Swan
- Vodeno vs Moov
- Vodeno vs Trustly
- Vodeno vs TrueLayer
- Vodeno vs Paymentology
- Vodeno vs Akoya
- Vodeno vs Sila
- Vodeno vs Backbase
- Vodeno vs Enfuce
- Vodeno vs Griffin
- Vodeno vs Stoplight
- Vodeno vs Mambu
- Vodeno vs Tuum
- Vodeno vs Treasury Prime
- Vodeno vs Unit
- Vodeno vs Solaris
- Vodeno vs Fintech Farm
- Vodeno vs Weavr
- Vodeno vs Synctera
- Vodeno vs Astra
- Vodeno vs Microsoft Azure API Management
- Vodeno vs Boomi API Management
- Vodeno vs Codat
- Vodeno vs curl