Iceland 2017/2018

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  • Regular price £185.00


Payment Organization

Greiðsluveitan

Domestic Card Brand

None.

Market Structure

Card use in Iceland is the highest in the world, reflecting the extension of card payments into new areas. As there is no giro system, cards take the place of direct debits for recurring payments.

There were 69.4 million domestic payments on debit cards alone in 2016, equivalent to 204.8 per capita. Including credit cards, per capita payments were 366.9 in 2016, the highest card use in Europe. 

The value of debit card payments at retail outlets was €2.4 billion in 2014, equivalent to €7,127.7 per capita, while the value of credit card payments at retail outlets was €2.6 billion, equivalent to €7,714.29 per capita. 

 

Iceland transposed the EU Payment Services Directive(PSD) into law in December 2011, and is expected to transpose PSD2 as well. 

Notable Market Trends

Rollout of contactless cards and POS terminals, MPOS terminals, 

Instant payments platform live in 2018. 

Statistical Key Figures for 2016 provided in this profile:

UPDATED: tables with card business data 2012-2016; growth rates: Y-o-Y, CAGR

Population, Cards per Capita, Card Value per Capita

Debit Cards, Credit/Delayed Debit Cards, Total Cards

Card payments by number and by value, ATV per card, payments per card/year

ATMs, POS terminals, ATMs/POS terminals per 1 million capita

ATM withdrawals by number/by value, ATV per withdrawal, TXs per ATM/month

POS payments by number/by value, ATV per POS payment, TXs per POS/month

Internet Use, e-payment mix, B2C e-Commerce by value and growth rate

Issued Card brands by individual major issuer bank

Accepted card brands by individual major acquirer

Drill down into the debit card use and credit cards use details

Product information

Digital product provided in PDF format. You will receive a download link to a zip file containing your files after checkout. 

Version

1.0.0 last updated 2nd December 2017