Softwr

APIs · head to head

Convoy vs Token.io

Convoy logo

Convoy

APIs

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

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 Convoy has a free tier, so it costs nothing to try first.
  • Each has a real cost: 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.; 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: Convoy covers Inbound and outbound, Token.io covers Payment initiation.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Convoy and Token.io actually diverge.

Attributes where Convoy and Token.io differ
AttributeConvoyToken.io
Starting priceFreeOn request
Pricing modelPer month, flat rate regardless of volumequote
Free tierYesNo
PlatformsLinux, Docker, Kubernetes, CloudWeb, API

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 Convoy

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

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.

Convoy

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

Token.io

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

Where each one falls short

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

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.

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

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

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 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

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 Convoy or Token.io better?
Neither clearly leads. Convoy 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, Convoy or Token.io?
Convoy has a free tier; the other does not. Paid plans start at Free for Convoy and On request for Token.io.
Does Convoy or Token.io run on more platforms?
Convoy runs on Linux, Docker, Kubernetes, Cloud. Token.io runs on Web, API.
Can I use Convoy for free?
Yes. Convoy has a free tier, so you can try it without paying. Token.io starts at On request.
What is Convoy best used for?
Convoy is most often used for a fintech that cannot route customer webhook traffic through a third-party saas for compliance reasons, a high-volume platform for which per-message webhook pricing costs more than the flat premium licence, a team that also receives webhooks from many providers and wants ingestion, verification and deduplication in the same gateway, an engineering group that wants webhook delivery driven directly from an existing kafka or sqs topic. Of those, a fintech that cannot route customer webhook traffic through a third-party saas for compliance reasons and a high-volume platform for which per-message webhook pricing costs more than the flat premium licence are not what Token.io is typically brought in for.
What can Convoy do that Token.io cannot?
Convoy covers Inbound and outbound, Broker-driven ingestion, Payload transformation, Portal links. Token.io covers Payment initiation, Variable recurring payments, Bank network coverage, giroAPI membership.

Answered from the vendors’ own pages

Convoy: Is Convoy really open source?

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

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.

Convoy: What does premium cost?

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

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.

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.

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.

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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