What are Iceland's payment options?

28 Aug 2023 By PAYCEC

There are several payment options available to both residents and visitors. These payment methods cater to different preferences and situations. Here are some of the commonly used Iceland’s payment options:

• Cash (Icelandic Króna): Cash payments in Icelandic Króna (ISK) are widely accepted throughout Iceland. It is advisable to carry some cash for smaller purchases, especially in rural areas or when visiting local markets or smaller establishments that may not accept card payments.
• Debit and Credit Cards: Cards are prevalent Iceland's payment options. Most businesses, including shops, restaurants, hotels, and tourist attractions, accept major international debit and credit cards such as Visa, Mastercard, and American Express. Card payment terminals are readily available, making it convenient to make transactions using cards.
• Contactless Payments: Contactless payments using cards or mobile devices are gaining popularity in Iceland. Many cardholders have contactless-enabled cards, allowing them to make quick and convenient payments by simply tapping their card on a payment terminal.

Mobile payment services like Apple Pay and Google Pay are also widely supported, enabling users to make contactless payments using their smartphones or wearable devices.

• Online Payments: Online shopping and e-commerce have become increasingly popular in Iceland. Customers can make purchases from Icelandic online retailers or international websites using their credit or debit cards.

Online banking transfers and payment platforms such as Neteller and Skrill are also available for online payments and money transfers.

• Bank Transfers: Bank transfers, both domestic and international, are commonly used for larger transactions, such as property purchases or business transactions. Icelandic banks provide secure and efficient transfer services.

It's important to note that while card payments are widely accepted, it's always advisable to carry some cash, particularly when visiting remote areas or establishments that may have limited card acceptance. Additionally, it's a good idea to check with the specific establishment or service provider regarding their accepted payment methods to ensure a smooth transaction.