What is Iceland payment?

28 Aug 2023 By PAYCEC

In Iceland, the primary currency and commonly used payment method is the Icelandic Króna (ISK). The Icelandic Króna is widely accepted throughout the country for various transactions, including in retail stores, restaurants, hotels, and other establishments.

Cash payments in Icelandic Króna are commonly used for smaller purchases, while electronic payment methods are widely accepted for both in-person and online transactions.

Card payments are extremely popular in Iceland, and most businesses accept major international credit and debit cards such as Visa, Mastercard, and American Express.

Card payment terminals are widely available, making it convenient for locals and tourists to make payments using their cards. Chip-and-PIN technology is prevalent, ensuring secure transactions.

Furthermore, contactless payments have gained significant traction as an Iceland payment. 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 payments using their smartphones or wearable devices.

Online payments are commonly used for e-commerce transactions in Iceland. Customers can make purchases from Icelandic online retailers or international websites using their credit or debit cards. Additionally, online banking transfers and online payment platforms such as Neteller and Skrill are available for online payments and money transfers.

While cash and card payments are the most commonly used methods in Iceland, it's worth noting that some establishments, especially smaller ones or those in remote areas, may have limited payment options. It is advisable to carry some cash, particularly when visiting rural areas, and check with the establishment beforehand regarding their accepted payment methods.