Adyen partners with Straumur to enhance payment processing in Iceland


Adyen, a global financial platform, has announced a significant partnership with Icelandic firm Straumur, a subsidiary of Kvika.

Straumur is a renowned payment provider in Iceland, processing payments across various sectors including grocery stores, restaurants, pharmacies, and gas stations.

The partnership is designed to revolutionise the payment processing landscape in Iceland. By combining their strengths, Adyen and Straumur aim to offer more streamlined and efficient payment solutions to various Icelandic markets, enhancing both merchant and consumer experiences.

Adyen, a global leader in financial technology, offers comprehensive payment solutions to businesses worldwide. The company excels in providing a unified platform for handling all payment data, facilitating transactions across different sales channels and markets, thus enabling better customer insights and experiences.

Straumur, on the other hand, specialises in local payment processing in Iceland. Handling about 25% of the country’s payments, their infrastructure supports in-person payments, e-commerce, and mobile applications, catering to over 1700 merchants.

Through this partnership, Adyen will take on the role of the card acquiring bank for Straumur’s operations. This collaboration is set to offer a unified commerce function, streamlining payment processes and enhancing customer experiences across various consumer channels.

This strategic alliance marks Adyen’s entry into the Icelandic market, representing a significant step in expanding their global reach. It also signifies Straumur’s commitment to upgrading their technical capabilities and broadening their service range.

Adyen Managing Director, Nordics & Baltics, Tobias Lindh said, “At Adyen we pride ourselves in working with partners that push the world of payments forward. That’s why we’re 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.”

Straumur’s Managing Director, Lilja Ólafsdóttir, remarked, “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.”

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