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APIs · head to head

Thredd vs Toqio

Thredd logo

Thredd

APIs

Issuer processing platform for fintechs and digital banks, formerly Global Processing Services

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  • Each has a real cost: Thredd pricing is entirely unpublished, so cost comparison against competing processors requires a sales process.; Toqio toqio holds no licence and provides no sponsor bank, so you must find,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: Thredd covers Issuer processing, 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 Thredd and Toqio actually diverge.

Attributes where Thredd and Toqio differ
AttributeThreddToqio
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 Thredd

  • Issuer processing
  • Multi-country reach
  • Scheme certification
  • Programme support across verticals
  • High platform availability
  • Global office footprint

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.

Thredd

  • A digital bank or fintech needing issuer processing across many countries under one contractnot Toqio
  • A BNPL, lending or crypto product needing certified card processing behind its own brandnot Toqio
  • A company that finds outdated Global Processing Services (GPS) material and needs to confirm it is now Threddnot Toqio
  • An embedded finance platform wanting a processor already integrated with core banking systems such as Mambunot Toqio

Toqio

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

Where each one falls short

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

Thredd

  • Pricing is entirely unpublished, so cost comparison against competing processors requires a sales process.
  • The 2023 rebrand from GPS to Thredd means research under either name alone can miss relevant material, and partner or press references before 2023 will still say GPS.
  • Issuer processing does not include the banking licence itself, so a fintech still needs a separate BIN sponsor or bank partner, adding a second relationship to manage.
  • As shared infrastructure behind many fintech brands, an outage or processing delay at Thredd becomes a simultaneous incident for every programme running on it, with limited visibility for any single customer into root cause.
  • Its verticals span crypto, BNPL and remittance broadly, so depth of specialist support in any one vertical may be thinner than a processor focused narrowly on that niche.

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

Thredd

On request
  • Thredd$undefined/year
    • Volume and programme-based pricing, not published
    • 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 Thredd if

  • You need issuer processing.
  • You work on Web, API.
  • You also want multi-country reach.
Thredd 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 Thredd or Toqio better?
Neither clearly leads. Thredd 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, Thredd or Toqio?
Thredd starts at On request and Toqio at On request.
Does Thredd or Toqio run on more platforms?
Thredd runs on Web, API. Toqio runs on Web, iOS, Android, API.
What is Thredd best used for?
Thredd is most often used for a digital bank or fintech needing issuer processing across many countries under one contract, a bnpl, lending or crypto product needing certified card processing behind its own brand, a company that finds outdated global processing services (gps) material and needs to confirm it is now thredd, an embedded finance platform wanting a processor already integrated with core banking systems such as mambu. Of those, a digital bank or fintech needing issuer processing across many countries under one contract and a bnpl, lending or crypto product needing certified card processing behind its own brand are not what Toqio is typically brought in for.
What can Thredd do that Toqio cannot?
Thredd covers Issuer processing, Multi-country reach, Scheme certification, Programme support across verticals. Toqio covers No code product builder, Provider orchestration, Account and card modules, Embedded financing.

Answered from the vendors’ own pages

Thredd: Is Thredd the same company as Global Processing Services?

Yes, GPS rebranded as Thredd in 2023; it is the same company and platform.

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.

Thredd: Does it hold the banking licence for programmes it processes?

No, Thredd is the issuer processor; a separate bank or BIN sponsor holds the actual issuing licence.

Toqio: Who is it aimed at?

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

Thredd: Is pricing published?

No, it requires a sales conversation.

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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