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APIs · head to head

Aiia vs Convoy

Aiia logo

Aiia

APIs

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

From
On request
Rated
-
Full reviewWebsite
Convoy logo

Convoy

APIs

Open source webhooks gateway you self-host, handling both sending and receiving

From
Free
Rated
-
Full reviewWebsite

The short version

  • Only Convoy has a free tier, so it costs nothing to try first.
  • 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.; Convoy the default deployment is self-hosted, so you operate Convoy plus Postgres and Redis and carry the on-call burden for the system that delivers your customers' events.
  • They diverge on capability: Aiia covers Bank account data access, Convoy covers Inbound and outbound.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Aiia and Convoy actually diverge.

Attributes where Aiia and Convoy differ
AttributeAiiaConvoy
Starting priceOn requestFree
Pricing modelquotePer month, flat rate regardless of volume
Free tierNoYes
PlatformsWeb, APILinux, Docker, Kubernetes, Cloud

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 Aiia

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

Only in Convoy

  • Inbound and outbound
  • Broker-driven ingestion
  • Payload transformation
  • Portal links
  • Circuit breaking
  • Retry policies
  • OpenTelemetry export
  • Role-based access control

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

Convoy

  • A fintech that cannot route customer webhook traffic through a third-party SaaS for compliance reasonsnot Aiia
  • A high-volume platform for which per-message webhook pricing costs more than the flat premium licencenot Aiia
  • A team that also receives webhooks from many providers and wants ingestion, verification and deduplication in the same gatewaynot Aiia
  • An engineering group that wants webhook delivery driven directly from an existing Kafka or SQS topicnot 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.

Convoy

  • The default deployment is self-hosted, so you operate Convoy plus Postgres and Redis and carry the on-call burden for the system that delivers your customers' events.
  • Frain Technologies is a small startup, and putting customer-facing delivery infrastructure on it means accepting real vendor continuity risk on a component that is hard to swap out quickly.
  • The premium tier at a flat 999 US dollars a month is poor value below substantial volume, while the community edition omits the portal, transformations and RBAC that most production deployments end up wanting.
  • The hosted cloud trial is capped at one project and 100 events a day, which is too small to properly evaluate the service before committing.
  • Documentation and the third-party ecosystem are thinner than the established webhook services, so unusual configurations often mean reading the Go source.

Pricing, plan by plan

Aiia

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

Convoy

Free
  • CommunityFree
    • Self-hosted open source gateway
    • Inbound and outbound webhooks
    • Automatic retries and message broker support
  • Premium$999/month
    • Flat rate irrespective of message volume
    • Portal links and payload transformation
    • RBAC, circuit breaking and white labelling
  • Enterprise$undefined/year
    • SAML SSO
    • Dedicated support with SLA
    • On-premises deployment assistance
  • Cloud$undefined/month
    • Hosted by Convoy
    • 14 day trial limited to one project and 100 events a day
    • Usage-based tiers above the trial

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 Convoy if

  • You need inbound and outbound.
  • You want to start without paying.
  • You work on Linux, Docker, Kubernetes, Cloud.
  • You also want broker-driven ingestion.
Convoy review

Questions people ask

Is Aiia or Convoy better?
Neither clearly leads. Aiia starts at On request and Convoy at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Aiia or Convoy?
Convoy has a free tier; the other does not. Paid plans start at On request for Aiia and Free for Convoy.
Does Aiia or Convoy run on more platforms?
Aiia runs on Web, API. Convoy runs on Linux, Docker, Kubernetes, Cloud.
Can I use Convoy for free?
Yes. Convoy has a free tier, so you can try it without paying. Aiia starts at On request.
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 Convoy is typically brought in for.
What can Aiia do that Convoy cannot?
Aiia covers Bank account data access, Payment initiation, Mastercard Open Finance integration, Modern authentication support. Convoy covers Inbound and outbound, Broker-driven ingestion, Payload transformation, Portal links.

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.

Convoy: Is Convoy really open source?

Yes, the community edition is open source and self-hostable, covering both inbound and outbound webhooks with retries.

Aiia: Does the Aiia brand still exist?

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

Convoy: What does premium cost?

A flat 999 US dollars a month, self-hosted, regardless of message volume.

Aiia: Which banks does it cover?

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

Convoy: Does it receive webhooks as well as send them?

Yes, inbound ingestion with verification and deduplication is a first-class feature, unlike most webhook services.

Convoy: Do I have to self-host?

No, there is a hosted cloud, but the trial is capped at 100 events a day and self-hosting is the primary model.

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