Payment Card Year Books

Iceland 2020/2021

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  • Regular price £240.00

Payment Organisation


Domestic Card Brand


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. 

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. 


 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 


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


Version 1.1 - last updated Friday 15th January 2021