Softwr

Accounting · head to head

Melio vs Toqio

Melio logo

Melio

Accounting

Simple business payments

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 Melio has a free tier, so it costs nothing to try first.
  • Each has a real cost: Melio card payments incur flat 2.9% fee on all plans; 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: Melio covers Vendor payments, 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 Melio and Toqio actually diverge.

Attributes where Melio and Toqio differ
AttributeMelioToqio
Starting priceFreeOn request
Pricing modelfreemiumquote
Free tierYesNo
PlatformsWeb, Mobile appWeb, iOS, Android, API
CategoryAccountingAPIs
Founded2018Unknown

Identical on both: user rating (Not yet rated).

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 Melio

  • Vendor payments
  • Card to check
  • Payment scheduling
  • Approval workflows
  • QuickBooks sync
  • QuickBooks
  • Xero
  • FreshBooks

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.

Melio

  • Accounts payable automationnot Toqio
  • Bill management and payment schedulingnot Toqio
  • Multi-vendor payment processingnot Toqio
  • Invoice receivables and payment collectionnot Toqio

Toqio

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

Where each one falls short

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

Melio

  • Card payments incur flat 2.9% fee on all plans
  • International payments charged $20 flat fee or 2.9% conversion rate plus international fees
  • Paper checks cost $1.50 per check
  • Wire transfers cost $10 standard or up to 1% plus $10 for same-day processing
  • Core and Boost plans charged $10/month per additional user beyond base

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

Melio

Free
  • GoFree
    • 5 free ACH payments per month
    • Pay by card, wire, or check
    • Basic invoicing
  • Core$25/month
    • 20 free ACH payments per month
    • $20/month with annual billing
    • QuickBooks Online and Xero sync
  • Boost$55/month
    • 50 free ACH payments per month
    • $44/month with annual billing
    • QuickBooks Desktop sync
  • Unlimited$80/month
    • Unlimited free ACH payments
    • $64/month with annual billing
    • NetSuite sync

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 Melio if

  • You need vendor payments.
  • You want to start without paying.
  • You work on Web, Mobile app.
  • You also want card to check.
Melio 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 Melio or Toqio better?
Neither clearly leads. Melio 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, Melio or Toqio?
Melio has a free tier; the other does not. Paid plans start at Free for Melio and On request for Toqio.
Does Melio or Toqio run on more platforms?
Melio runs on Web, Mobile app. Toqio runs on Web, iOS, Android, API.
Can I use Melio for free?
Yes. Melio has a free tier, so you can try it without paying. Toqio starts at On request.
What is Melio best used for?
Melio is most often used for accounts payable automation, bill management and payment scheduling, multi-vendor payment processing, invoice receivables and payment collection. Of those, accounts payable automation and bill management and payment scheduling are not what Toqio is typically brought in for.
What can Melio do that Toqio cannot?
Melio covers Vendor payments, Card to check, Payment scheduling, Approval workflows. Toqio covers No code product builder, Provider orchestration, Account and card modules, Embedded financing.

Answered from the vendors’ own pages

Melio: What does Melio charge for ACH payments?

Melio's free Go tier includes 5 free ACH payments per month. Core tier provides 20 free ACH payments per month at $25/month. Boost offers 50 free ACH payments at $55/month. Unlimited tier at $80/month includes unlimited free ACH payments.

Source
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.

Melio: Does Melio charge fees for card payments?

Yes, Melio charges a flat 2.9% fee on all card payments. International card payments also include currency conversion charges and international fees beyond the base 2.9%.

Source
Toqio: Who is it aimed at?

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

Melio: Can I use Melio for free?

Yes, Melio's free Go tier allows 5 free ACH payments per month with no subscription cost. Users can pay by card, wire, or check and access basic invoicing and payment link features.

Source
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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