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APIs · head to head

Codat vs Lithic

Codat logo

Codat

APIs

One API for small business accounting, banking and commerce data

From
On request
Rated
-
Full reviewWebsite
Lithic logo

Lithic

APIs

API-first card issuing platform with direct Visa, Mastercard and Amex network connections

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Codat the accounting platforms are metering developer access themselves, with Xero introducing tiered connection based developer pricing from 2 March 2026, so a cost you do not control has been inserted between you and the data and it scales with the number of customers you connect.; Lithic pricing is entirely undisclosed, so a company cannot compare total cost against Marqeta, Galileo or Highnote without a sales conversation.
  • They diverge on capability: Codat covers Normalised accounting API, Lithic covers Direct network connections.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Codat and Lithic actually diverge.

Attributes where Codat and Lithic differ
AttributeCodatLithic
PlatformsAPI, WebWeb, API

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 Codat

  • Normalised accounting API
  • Banking and commerce data
  • Lending products
  • Write-back
  • Business verification
  • Supplier onboarding
  • Connection management
  • Data quality handling

Only in Lithic

  • Direct network connections
  • Processor Client mode
  • Lithic Program Management
  • Card lifecycle APIs
  • Sandbox environment
  • Real-time authorization controls

What people use each for

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

Codat

  • A business lender that wants live ledger data for underwriting rather than a borrower emailing exported PDF accountsnot Lithic
  • A commercial bank monitoring covenant compliance across a portfolio of small business borrowers continuously rather than quarterlynot Lithic
  • A payment company verifying a merchant trading history before extending working capitalnot Lithic
  • A B2B platform writing bills and payments back into a customer accounting system so reconciliation happens automaticallynot Lithic

Lithic

  • A fintech wanting direct Visa or Mastercard network access rather than routing through a third-party processornot Codat
  • A company that already holds its own issuing licence and wants API access without full programme managementnot Codat
  • A neobank or expense platform wanting Lithic to manage bank and network relationships end to endnot Codat
  • A product team prototyping a card programme in sandbox before committing to a launchnot Codat

Where each one falls short

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

Codat

  • The accounting platforms are metering developer access themselves, with Xero introducing tiered connection based developer pricing from 2 March 2026, so a cost you do not control has been inserted between you and the data and it scales with the number of customers you connect.
  • Pricing is opaque and enterprise shaped for a product developers expect to evaluate technically first, so build decisions get made before anyone knows the unit economics.
  • Normalisation hides but does not remove the underlying differences between accounting systems, and edge cases in multi-currency, journals and tax handling surface as data quality problems that your team must reason about in each source system anyway.
  • Data quality depends on the small business keeping its books properly, so a lender using ledger data for underwriting inherits the bookkeeping standard of its worst borrower and needs its own validation layer regardless.
  • Connection breakage from expired tokens and platform API changes is an ongoing operational load, and a borrower whose connection lapses stops being monitored silently, which is the failure mode that matters most in a lending portfolio.

Lithic

  • Pricing is entirely undisclosed, so a company cannot compare total cost against Marqeta, Galileo or Highnote without a sales conversation.
  • Choosing Processor Client mode still leaves the company responsible for holding its own issuing licence and managing the regulatory relationship, which is a substantial undertaking many teams underestimate.
  • As with any card infrastructure provider, an outage or network issue at Lithic becomes a direct outage for every card programme built on it, and a customer has limited visibility into root cause during an incident.
  • Building a card programme on API infrastructure requires real engineering investment; it is not a plug-and-play product for a non-technical team.
  • Switching card infrastructure providers after launch is a major undertaking involving card reissuance and programme migration, so the initial choice carries lasting lock-in.

Pricing, plan by plan

Codat

On request
  • Codat Platform$undefined/year
    • Priced by connected companies, data types and products
    • Lending and verification products priced above core data access
    • Annual enterprise agreements

Lithic

On request
  • Lithic$undefined/year
    • Volume and interchange-based pricing, not published
    • Separate Processor Client and Program Management pricing tracks
    • Custom quote required via sales

Which should you pick?

Choose Codat if

  • You need normalised accounting api.
  • You work on API, Web.
  • You also want banking and commerce data.
Codat review

Choose Lithic if

  • You need direct network connections.
  • You work on Web, API.
  • You also want processor client mode.
Lithic review

Questions people ask

Is Codat or Lithic better?
Neither clearly leads. Codat starts at On request and Lithic at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Codat or Lithic?
Codat starts at On request and Lithic at On request.
Does Codat or Lithic run on more platforms?
Codat runs on API, Web. Lithic runs on Web, API.
What is Codat best used for?
Codat is most often used for a business lender that wants live ledger data for underwriting rather than a borrower emailing exported pdf accounts, a commercial bank monitoring covenant compliance across a portfolio of small business borrowers continuously rather than quarterly, a payment company verifying a merchant trading history before extending working capital, a b2b platform writing bills and payments back into a customer accounting system so reconciliation happens automatically. Of those, a business lender that wants live ledger data for underwriting rather than a borrower emailing exported pdf accounts and a commercial bank monitoring covenant compliance across a portfolio of small business borrowers continuously rather than quarterly are not what Lithic is typically brought in for.
What can Codat do that Lithic cannot?
Codat covers Normalised accounting API, Banking and commerce data, Lending products, Write-back. Lithic covers Direct network connections, Processor Client mode, Lithic Program Management, Card lifecycle APIs.

Answered from the vendors’ own pages

Codat: What is changing with Xero in 2026?

Xero is introducing a tiered, usage based developer pricing model effective 2 March 2026, with tiers based on the number of customer connections an app holds. That is a new cost in the chain for anyone reading Xero data at scale, whether directly or through Codat.

Lithic: Does Lithic publish pricing?

No, pricing is volume-based and requires a sales conversation.

Codat: Can Codat write data back?

Yes. It supports pushing bills, payments and journal entries into accounting systems, not only reading from them.

Lithic: What is the difference between Processor Client and Program Management?

Processor Client suits companies with their own issuing licence and bank relationships; Program Management is for companies wanting Lithic to coordinate those relationships on their behalf.

Codat: Is pricing published?

No. It is quoted by connected companies, data types and products, and users consistently describe it as opaque.

Lithic: Which networks does it connect to?

Visa, Mastercard and American Express directly.

Codat: Does it replace bank data aggregation?

Not entirely. It covers banking alongside accounting and commerce, but lenders commonly run it beside a bank aggregator for transaction level cash flow.

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