Iceland’s payment landscape reflects a technologically advanced and consumer-friendly environment, with a strong embrace of digital solutions. Iceland features a very advanced digital payment system with minimal reliance on cash. Credit and debit cards (Visa and Mastercard) are dominant, and contactless payments are virtually ubiquitous. Online banking is extremely widespread, and bank transfers are frequently used for various types of transactions. Cash is rarely used in daily transactions, reflecting the country’s high level of digital literacy and well-developed digital infrastructure. Mobile payment solutions are integrated into everyday life, contributing to a highly efficient and largely cashless payment environment.
Estimated Population
0.36 million
Currency
Icelandic króna (ISK)
All supported payment methods for Iceland:
Visa, Mastercard, American Express, JCB, UnionPay International, Discover, Diners Club, Apple Pay, Google Pay, PayPal, Invoice Payment, SEPA Direct Debit, SEPA Credit, Prepayment, MaestroPopular payment methods
Mastercard
Credit/Debit Cards
Unlock a world of payment possibilities with Mastercard, a trusted global leader in secure and convenient transactions
American Express
Credit/Debit Cards
Elevate your business with American Express, a premium payment network that attracts discerning customers and drives higher-value transactions.
JCB
Credit/Debit Cards
JCB is a leading international payment network, offering a unique opportunity for businesses to reach a growing customer base, especially in Asia-Pacific.
UnionPay International
Credit/Debit Cards
UnionPay is the world’s largest payment network, offering businesses the opportunity to tap into the vast Chinese market and beyond.
Discover
Credit/Debit Cards
Discover is a leading payment network that offers a unique combination of security, rewards, and customer service, making it an attractive option for businesses.
Diners Club
Credit/Debit Cards
Diners Club is a global payment network renowned for its premium services and exclusive benefits, offering businesses access to a discerning clientele.
Apple Pay
Wallets
Apple Pay offers businesses a convenient and secure way to accept payments from iPhone, Apple Watch, and Mac users, enhancing the customer experience and boosting sales.
Google Pay
Wallets
Google Pay empowers businesses to offer a fast, secure, and convenient mobile payment experience, attracting a wide range of customers.
PayPal
Wallets
PayPal is a global leader in online payments, offering businesses a secure and convenient way to accept payments from millions of customers worldwide.
Invoice Payment
Invoice
A document outlining the details of a purchase, including the goods or services provided, the amount due, and payment terms.
SEPA Direct Debit
Direct Debit
SEPA Direct Debit is a secure and convenient payment method for businesses operating within the European Union, allowing for automated payments from customers’ bank accounts.
SEPA Credit
SEPA Credit
SEPA Credit Transfer is a secure and efficient way for businesses to make payments within the European Union, streamlining cross-border transactions and simplifying international payments.
