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APIs · head to head

Marqeta vs Toqio

Marqeta logo

Marqeta

APIs

Card issuing and transaction processing APIs with just-in-time funding

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: Marqeta you still need a sponsor bank and a BIN, so the timeline and compliance burden of launching are set by a bank you must separately court and satisfy.; 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: Marqeta covers Just-in-time funding, 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 Marqeta and Toqio actually diverge.

Attributes where Marqeta and Toqio differ
AttributeMarqetaToqio
PlatformsWeb, REST 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 Marqeta

  • Just-in-time funding
  • Virtual and physical issuing
  • Spend controls
  • Programme management tools
  • Multi-region issuing
  • Webhooks and ledger data

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.

Marqeta

  • A delivery marketplace funding courier cards only at the moment a courier pays for the ordernot Toqio
  • An expense platform issuing a virtual card per subscription with merchant locksnot Toqio
  • A lender issuing a card that draws on an approved credit line rather than a stored balancenot Toqio
  • A fintech wanting the same issuing stack across US and European programmesnot Toqio

Toqio

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

Where each one falls short

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

Marqeta

  • You still need a sponsor bank and a BIN, so the timeline and compliance burden of launching are set by a bank you must separately court and satisfy.
  • Pricing carries minimum monthly platform commitments, so a programme with modest card volume pays for capacity it never uses.
  • Programme revenue depends heavily on interchange, which means regulated debit interchange caps and European interchange caps materially change the business case by market.
  • Disputes, chargebacks and fraud losses sit with the programme, and teams that assumed the processor absorbed them discover a real operations headcount requirement.
  • Just-in-time funding makes your own authorisation endpoint a hard availability dependency; if it is slow or down, cards decline at the point of sale.

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

Marqeta

On request
  • Marqeta card issuing$undefined/year
    • Minimum monthly platform fee plus per-transaction and per-active-card charges
    • Interchange share negotiated between programme, processor and sponsor bank
    • Sponsor bank required, with its own fees and approval process

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 Marqeta if

  • You need just-in-time funding.
  • You work on Web, REST API.
  • You also want virtual and physical issuing.
Marqeta 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 Marqeta or Toqio better?
Neither clearly leads. Marqeta 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, Marqeta or Toqio?
Marqeta starts at On request and Toqio at On request.
Does Marqeta or Toqio run on more platforms?
Marqeta runs on Web, REST API. Toqio runs on Web, iOS, Android, API.
What is Marqeta best used for?
Marqeta is most often used for a delivery marketplace funding courier cards only at the moment a courier pays for the order, an expense platform issuing a virtual card per subscription with merchant locks, a lender issuing a card that draws on an approved credit line rather than a stored balance, a fintech wanting the same issuing stack across us and european programmes. Of those, a delivery marketplace funding courier cards only at the moment a courier pays for the order and an expense platform issuing a virtual card per subscription with merchant locks are not what Toqio is typically brought in for.
What can Marqeta do that Toqio cannot?
Marqeta covers Just-in-time funding, Virtual and physical issuing, Spend controls, Programme management tools. Toqio covers No code product builder, Provider orchestration, Account and card modules, Embedded financing.

Answered from the vendors’ own pages

Marqeta: Do I need a sponsor bank?

Yes. Marqeta is an issuer processor, not a bank. Card programmes run on a sponsor bank BIN, and that bank approves and supervises your programme.

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.

Marqeta: How does the pricing really work?

A minimum monthly platform fee plus per-transaction and per-active-card charges, offset by a negotiated share of interchange. The interchange split is the substance of the deal.

Toqio: Who is it aimed at?

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

Marqeta: What is just-in-time funding?

Marqeta calls your endpoint at authorisation so you decide and fund each transaction, rather than pre-loading balances onto cards.

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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