Domestic Card Brand
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.
In 2019, there were 80.8 million domestic payments on debit cards, equivalent to 221.8 per capita. Including credit cards, domestic per capita payments were 469.6, the highest domestic card use in Europe.
The value of debit card payments at retail outlets was €2.70 billion in 2019, equivalent to €7,425.0 per capita, while the value of credit card payments at retail outlets was €2.93 billion, equivalent to €8,033.0 per capita.
Sedlabanki is planning to launch an instant payment platform in 2020.
Notable Market Trends
Contactless rollout: cards, POS terminals, mobile banking apps.
STATISTICAL KEY FIGURES FOR 2019 PROVIDED IN THIS PROFILE
• UPDATED: tables with card business data 2015-2019; 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
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Version 1.1 - last updated Friday 15th January 2021