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APIs · head to head

Convoy vs Toqio

Convoy logo

Convoy

APIs

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

From
Free
Rated
-
Full reviewWebsite
Toqio logo

Toqio

APIs

No code platform for building embedded finance products on your own providers

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.; Toqio toqio holds no licence and provides no sponsor bank, so you must find, contract and manage regulated providers yourself, which is the slowest part of any embedded finance launch.
  • They diverge on capability: Convoy covers Inbound and outbound, Toqio covers No code product builder.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Convoy and Toqio actually diverge.

Attributes where Convoy and Toqio differ
AttributeConvoyToqio
Starting priceFreeOn request
Pricing modelPer month, flat rate regardless of volumequote
Free tierYesNo
PlatformsLinux, Docker, Kubernetes, CloudWeb, iOS, Android, 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 Toqio

  • No code product builder
  • Provider orchestration
  • Account and card modules
  • Embedded financing
  • Back office tooling
  • Multi entity and multi brand
  • White label mobile apps
  • Marketplace of providers

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 Toqio
  • A high-volume platform for which per-message webhook pricing costs more than the flat premium licencenot Toqio
  • A team that also receives webhooks from many providers and wants ingestion, verification and deduplication in the same gatewaynot Toqio
  • An engineering group that wants webhook delivery driven directly from an existing Kafka or SQS topicnot Toqio

Toqio

  • A manufacturer offering branded working capital finance to its dealer networknot Convoy
  • A B2B marketplace launching accounts and cards for its sellers without becoming regulated itselfnot Convoy
  • A corporate that wants to switch card issuer without rebuilding its customer facing productnot Convoy
  • A group launching the same embedded finance product across several markets with different local providersnot 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.

Toqio

  • Toqio holds no licence and provides no sponsor bank, so you must find, contract and manage regulated providers yourself, which is the slowest part of any embedded finance launch.
  • Because it orchestrates rather than provides, the customer experience is only as good as the underlying bank or issuer, and Toqio cannot fix a partner's settlement delays or outages.
  • Pricing is quoted with no public rate card, so comparing it against building in house or against a bundled banking as a service provider requires a full sales process.
  • With around EUR 30 million raised in total it is a small supplier to underpin a financial product a large corporate expects to run for a decade, which raises real continuity questions in procurement.
  • No code configuration covers standard patterns well but bespoke customer journeys eventually require custom development, at which point the main advantage over building directly on provider APIs narrows.

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

Toqio

On request
  • Toqio platform$undefined/year
    • Quoted per customer, typically setup plus recurring platform fee
    • Regulated provider fees are separate and contracted by you
    • Card interchange and lending economics belong to your provider agreements

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 Toqio if

  • You need no code product builder.
  • You work on Web, iOS, Android, API.
  • You also want provider orchestration.
Toqio review

Questions people ask

Is Convoy or Toqio better?
Neither clearly leads. Convoy starts at Free and Toqio at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Convoy or Toqio?
Convoy has a free tier; the other does not. Paid plans start at Free for Convoy and On request for Toqio.
Does Convoy or Toqio run on more platforms?
Convoy runs on Linux, Docker, Kubernetes, Cloud. Toqio runs on Web, iOS, Android, API.
Can I use Convoy for free?
Yes. Convoy has a free tier, so you can try it without paying. Toqio 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 Toqio is typically brought in for.
What can Convoy do that Toqio cannot?
Convoy covers Inbound and outbound, Broker-driven ingestion, Payload transformation, Portal links. Toqio covers No code product builder, Provider orchestration, Account and card modules, Embedded financing.

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.

Toqio: Does Toqio provide the banking licence?

No, deliberately. You contract your own bank, issuer or lender, which is why you can replace them without rebuilding the product.

Convoy: What does premium cost?

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

Toqio: Who is it aimed at?

Large corporates and B2B ecosystem operators embedding finance for suppliers, dealers or marketplace sellers, not consumer fintech startups.

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.

Toqio: How much does it cost?

Not published. Expect a setup fee plus a recurring platform fee, with all regulated provider costs on top and separately contracted.

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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