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APIs · head to head

Toqio vs WSO2 API Manager

Toqio logo

Toqio

APIs

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

From
On request
Rated
-
Full reviewWebsite
WSO2 API Manager logo

WSO2 API Manager

APIs

Complete API management platform for designing and managing APIs

From
Free
Rated
-
Full reviewWebsite

The short version

  • Only WSO2 API Manager has a free tier, so it costs nothing to try first.
  • Each has a real cost: 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.; WSO2 API Manager the free open source distribution does not include a subscription to the WSO2 Update service, so continuous improvements and security patches require a paid subscription
  • They diverge on capability: Toqio covers No code product builder, WSO2 API Manager covers API Gateway.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Toqio and WSO2 API Manager actually diverge.

Attributes where Toqio and WSO2 API Manager differ
AttributeToqioWSO2 API Manager
Starting priceOn requestFree
Pricing modelquoteopen-source
Free tierNoYes
PlatformsWeb, iOS, Android, APIJava, Linux, Docker, Kubernetes
FoundedUnknown2005

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 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

Only in WSO2 API Manager

  • API Gateway
  • API Designer
  • Developer Portal
  • LDAP
  • Okta
  • Keycloak
  • Microservices
  • Java support

What people use each for

The jobs each tool is most often brought in to do.

Toqio

  • A manufacturer offering branded working capital finance to its dealer networknot WSO2 API Manager
  • A B2B marketplace launching accounts and cards for its sellers without becoming regulated itselfnot WSO2 API Manager
  • A corporate that wants to switch card issuer without rebuilding its customer facing productnot WSO2 API Manager
  • A group launching the same embedded finance product across several markets with different local providersnot WSO2 API Manager

WSO2 API Manager

  • Publishing, securing and rate limiting APIs behind a gatewaynot Toqio
  • Running an API developer portal with subscription key managementnot Toqio
  • Self hosting an open source API management layer on premisesnot Toqio

Where each one falls short

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

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.

WSO2 API Manager

  • The free open source distribution does not include a subscription to the WSO2 Update service, so continuous improvements and security patches require a paid subscription
  • A commercial production licence is not part of the free download and comes only with a subscription
  • No subscription price is published; Basic Support and Enterprise Support both require contacting sales for a quote
  • 24x7x365 coverage requires Enterprise Support; the general query SLA is one business day
  • A Customer Success Manager is a paid optional add on covering business hours only
  • Consulting services and WSO2 Private Cloud hosting are quoted separately

Pricing, plan by plan

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

WSO2 API Manager

Free
  • CommunityFree
    • Core API management
    • Community support
  • Commercial$undefined/monthly
    • Enterprise features
    • Technical support
    • SLA

Which should you pick?

Choose Toqio if

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

Choose WSO2 API Manager if

  • You need api gateway.
  • You want to start without paying.
  • You work on Java, Linux, Docker, Kubernetes.
  • You also want api designer.
WSO2 API Manager review

Questions people ask

Is Toqio or WSO2 API Manager better?
Neither clearly leads. Toqio starts at On request and WSO2 API Manager at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Toqio or WSO2 API Manager?
WSO2 API Manager has a free tier; the other does not. Paid plans start at On request for Toqio and Free for WSO2 API Manager.
Does Toqio or WSO2 API Manager run on more platforms?
Toqio runs on Web, iOS, Android, API. WSO2 API Manager runs on Java, Linux, Docker, Kubernetes.
Can I use WSO2 API Manager for free?
Yes. WSO2 API Manager has a free tier, so you can try it without paying. Toqio starts at On request.
What is Toqio best used for?
Toqio is most often used for a manufacturer offering branded working capital finance to its dealer network, a b2b marketplace launching accounts and cards for its sellers without becoming regulated itself, a corporate that wants to switch card issuer without rebuilding its customer facing product, a group launching the same embedded finance product across several markets with different local providers. Of those, a manufacturer offering branded working capital finance to its dealer network and a b2b marketplace launching accounts and cards for its sellers without becoming regulated itself are not what WSO2 API Manager is typically brought in for.
What can Toqio do that WSO2 API Manager cannot?
Toqio covers No code product builder, Provider orchestration, Account and card modules, Embedded financing. WSO2 API Manager covers API Gateway, API Designer, Developer Portal, LDAP.

Answered from the vendors’ own pages

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.

WSO2 API Manager: How is WSO2 API Manager priced?

WSO2 API Manager pricing is not published on their website. As an enterprise API management platform, pricing is custom-quoted based on deployment model and organizational requirements.

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.

WSO2 API Manager: Does WSO2 API Manager offer different pricing for on-premises versus cloud deployments?

WSO2 API Manager supports multiple deployment options including on-premises and cloud, but pricing structures for different deployment models are not publicly disclosed.

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.

WSO2 API Manager: What deployment flexibility does WSO2 API Manager provide?

WSO2 API Manager enables flexible deployment on-premises or in cloud environments, but specific pricing tiers for each deployment model require contacting WSO2 sales.

Source
WSO2 API Manager: How would I request a WSO2 API Manager pricing quote?

Organizations can request pricing quotes by contacting WSO2 sales through their website. Custom quotes depend on API volume, deployment model, and feature requirements.

Source
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