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APIs · head to head

Lithic vs Toqio

Lithic logo

Lithic

APIs

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

From
On request
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

  • Each has a real cost: Lithic pricing is entirely undisclosed, so a company cannot compare total cost against Marqeta, Galileo or Highnote without a sales conversation.; 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: Lithic covers Direct network connections, 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 Lithic and Toqio actually diverge.

Attributes where Lithic and Toqio differ
AttributeLithicToqio
PlatformsWeb, APIWeb, iOS, Android, 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 Lithic

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

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.

Lithic

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

Toqio

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

Where each one falls short

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

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.

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

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

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 Lithic if

  • You need direct network connections.
  • You work on Web, API.
  • You also want processor client mode.
Lithic 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 Lithic or Toqio better?
Neither clearly leads. Lithic starts at On request and Toqio at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Lithic or Toqio?
Lithic starts at On request and Toqio at On request.
Does Lithic or Toqio run on more platforms?
Lithic runs on Web, API. Toqio runs on Web, iOS, Android, API.
What is Lithic best used for?
Lithic is most often used for a fintech wanting direct visa or mastercard network access rather than routing through a third-party processor, a company that already holds its own issuing licence and wants api access without full programme management, a neobank or expense platform wanting lithic to manage bank and network relationships end to end, a product team prototyping a card programme in sandbox before committing to a launch. Of those, a fintech wanting direct visa or mastercard network access rather than routing through a third-party processor and a company that already holds its own issuing licence and wants api access without full programme management are not what Toqio is typically brought in for.
What can Lithic do that Toqio cannot?
Lithic covers Direct network connections, Processor Client mode, Lithic Program Management, Card lifecycle APIs. Toqio covers No code product builder, Provider orchestration, Account and card modules, Embedded financing.

Answered from the vendors’ own pages

Lithic: Does Lithic publish pricing?

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

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.

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.

Toqio: Who is it aimed at?

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

Lithic: Which networks does it connect to?

Visa, Mastercard and American Express directly.

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.

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