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Adyen partners with Straumur to simplify payments in Iceland

By Gloria Methri

January 04, 2024

  • Adyen
  • Card Acquiring
  • FinTech

Adyen, payments processing, straumur, Fintech, IceandAdyen, the global financial platform is entering a partnership with Straumur, a subsidiary of Kvika. Straumur is a payment provider that processes payments in several verticals on the Icelandic market, including grocery stores, restaurants, pharmacies and gas stations.

Straumur currently processes approximately 25% of the payments within the Icelandic market. Its payments infrastructure includes in-person payments, e-commerce, and apps for its 1700 merchants.

The collaboration means that Adyen will act as the card-acquiring bank for Straumur’s operations. Together, the parties will create simpler and more seamless payments for Straumur’s merchants and end-consumers. With the help of Adyen, merchants can collect all payment data from all sales channels, markets, and consumers on the same platform.

In this way, Straumur can implement Adyen’s Unified Commerce function and create better customer insights, customer journeys and customer experiences across all consumer channels for commerce.

“At Adyen we pride ourselves in working with partners that push the world of payments forward. That’s why we are excited to enter the Icelandic market and partner with Straumur as their acquiring bank. Their local payment processing offering combined with our financial technology platform will ensure easier, safer and more seamless payments for consumers all over Iceland,” said Tobias Lindh, Managing Director, Adyen Nordics & Baltics.

“At Straumur, we are committed to offering outstanding payment solutions for our customers. Our approach goes beyond traditional payment processing – we see ourselves as partners with our customers and want to help them grow. This collaboration with a new, powerful transaction acquirer enables us to boost our technical capacity and significantly widen the range of services we offer,” said Lilja Ólafsdóttir, Managing Director of Straumur.

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