What Straumur does

Straumur greiðslumiðlun hf. is an Icelandic payment institution licensed by the Financial Supervisory Authority of the Central Bank of Iceland and a wholly-owned subsidiary of Kviku banka hf., an Iceland-listed bank. Founded in 2022 and operating since April 2023, the company provides payment acquiring services exclusively to Icelandic businesses, holding an inherited position of approximately 25% of the domestic acquiring market following Kviku's acquisition of the Valitor merchant portfolio in connection with the Rapyd/Valitor merger. Straumur serves retail, e-commerce, hospitality, and car rental merchants with a unified product portfolio: POS terminals (S1F2 portable, S1E2L with scanner, SFO1 with advertising screen, P630 countertop), web payment solutions comprising a hosted checkout, a programmable payment gateway/API, and shareable payment links, plus a merchant service portal providing real-time transaction dashboards, settlement reporting, refund processing, and direct accounting sync to BC, DK, Tegra, Dynamics AX, and Uniconta. All solutions are built on Adyen's payment infrastructure (the same platform used by Spotify, Uber, and Zara), supporting card, Apple Pay, Google Pay, American Express, JCB, and UnionPay with 3D Secure authentication and >99.99% advertised uptime.

The business model is primarily transaction-based: Straumur charges a service fee layered on top of interchange and scheme fees for each card transaction processed, with no setup, monthly, or update fees. Ancillary revenue streams include POS terminal hardware sales and leases, 10 ISK per-SMS fees for payment link delivery, and a merchant share of Dynamic Currency Conversion (DCC) commissions on foreign-card transactions. Go-to-market is a direct B2B sales motion with a 'Fá tilboð' (Get a Quote) request form on straumur.is, supplemented by self-service onboarding via the service portal, marketplace distribution (Shopify App Store, WordPress plugin directory, Magento), and integration within the Bókun booking platform. The company operates with approximately 11 employees from its Reykjavík headquarters at Katrínartún 2, holds PCI DSS certification, and has signaled indications of ISO 27001 compliance.

Strategically, Straumur is in a platform-consolidation phase: the migration of all legacy Valitor merchants onto Adyen infrastructure completed in November 2025, AUR (sister Kviku subsidiary) migrated its payment gateway to Straumur in February 2025, and the product roadmap has expanded rapidly through 2025–2026 with added recurring/subscription billing, American Express acceptance, POS-to-POS transfer, two-factor authentication on the service portal, a lightweight POS App for micro-merchants, and announced support for Adyen Agentic Commerce. Customer service is delivered entirely in Icelandic by a local team, with extended-hours and weekend emergency support for POS issues — a positioning explicitly framed against international acquirers lacking local market knowledge.

Name

Straumur

Legal name

Straumur greiðslumiðlun hf.

Website

https://straumur.is

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

Straumur is an Icelandic payment institution and wholly-owned subsidiary of Kviku banka hf., offering POS terminals, hosted checkout, payment gateway, payment links, and a merchant service portal — all built on Adyen's infrastructure — to Icelandic retail, e-commerce, hospitality, and car rental merchants.

Ownership category

akta.pro rank

Product category

Payment Processing Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Finance Services (6199)

akta.pro primary industry

Integrated Payment Processors (PSP/Acquirer) (FSAMABAA)

akta.pro secondary industries

Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA), POS-to-Online Unified Payments (Omnichannel Payments) (CRAFALAL), Invoicing, Pay-by-Link & Virtual Accounts (CRAFALAJ), Recurring Billing, Subscriptions & Tokenized Payments (CRAFALAH)

Keywords

• Payment acquiring services
• POS terminal solutions
• Online payment gateway
• Merchant payment processing
• Icelandic payment institution

Headquarters

HQ city

Reykjavík

HQ country

Iceland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Operations, Personnel, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. Transaction/Merchant Fee Revenue: Straumur earns revenue by charging merchants a fee on each payment transaction processed. The fee structure consists of Straumur's service fee added to the cost price of each card type. The total fee for payment acquiring is composed of interchange fees (milligjöld), scheme fees (skemagjöld), and Straumur's acquiring fee. Fees vary by card origin country, amount, and card type. An example for a 7,500 ISK transaction is provided on the pricing page showing the breakdown.
2. POS Terminal Hardware Sales: Straumur sells and leases POS terminal hardware to merchants. Terminals available include S1F2 (general portable), S1E2L (with scanner), SFO1 (with advertising screen), and P630 (countertop). Hardware is set up and delivered by Straum's POS team.
3. SMS Fee for Payment Links: While payment links sent via email are free, Straumur charges 10 ISK per SMS sent for payment link delivery. This is a small ancillary revenue stream.
4. Dynamic Currency Conversion (DCC) Revenue: Merchants receive additional revenue from each DCC (Myntval) transaction where foreign cardholders choose to pay in their home currency. The merchant receives a portion of the DCC commission charged to the cardholder.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Straumur is a licensed Icelandic payment institution that provides merchants with a unified payment acceptance platform spanning in-store POS terminals (S1F2, S1E2L, SFO1, P630) and online payment solutions (hosted checkout, payment gateway/API, and pay-by-link), all built on Adyen's global payment infrastructure. Its offering is complemented by a merchant service portal (Þjónustuvefur) with real-time transaction reporting, direct accounting-system integration, tokenized recurring/subscription payments, and dynamic currency conversion, sold under a transaction-fee model with no setup or monthly fees.

Product overview

Straumur is an Icelandic payment services provider offering a unified portfolio of POS terminal solutions, web-based online payment solutions, and a merchant-facing service portal. The core product lines are: (1) POS terminals (posar) — hardware-based in-person payment acceptance supporting contactless card, Apple Pay, and Google Pay, with an optional lightweight POS app mode for merchants without a separate cash register; (2) Veflausnir (web payment solutions) — comprising three distinct online payment products: Greiðslusíða (hosted checkout page), Greiðslugátt (payment gateway/API), and Greiðslutenglar (pay-by-link); and (3) the Þjónustuvefur (service portal) — a merchant operations hub providing real-time sales dashboards, transaction management, settlement reporting, refund processing, user access control, POS ordering, and direct accounting sync to BC, DK, Tegra, Dynamics AX, and Uniconta. Additional products include subscription/recurring payment capabilities via tokenization (áskriftargreiðslur) and virtual card tokenization (sýndarhlekkir). All payment solutions are built on Adyen's infrastructure and support 3D Secure. The company is a subsidiary of Kviku banka hf.

Differentiator

Problem solved

Functional benefit

Products and services

• POS Terminals (Posar) Point-of-sale terminal solutions for in-person card payments. Straumur provides and manages POS hardware (S1F2 general portable, S1E2L with barcode/QR scanner, SFO1 with 8-inch advertising screen, P630 countertop high-durability) running Adyen software. Supports contactless card, Apple Pay, Google Pay, and 3D Secure, with 4G connectivity and pre-built integration to major Icelandic POS and cash register systems (DK, LS Pay, SmartPOS from Wise, Regla). Sold to Icelandic merchants of all sizes needing in-person payment acceptance.
• POS App (posiapp) A lightweight POS application that runs on Straumur terminal hardware, allowing the terminal to function as a stand-alone point-of-sale tool without a separate cash register system. Displays a simple product catalog on the terminal screen and includes a built-in calculator for ad-hoc pricing. Designed for small Icelandic merchants such as cafés, kiosks, food carts, and market stalls.
• Web Payment Solutions (Veflausnir) A suite of web-based payment solutions for Icelandic online merchants, comprising three product lines: Greiðslusíða (hosted checkout page), Greiðslugátt (payment gateway/API), and Greiðslutenglar (pay-by-link). Supports card payments, Apple Pay, Google Pay, and 3D Secure authentication, with pre-built integrations for Shopify, WooCommerce, Magento, and Bókun.
• Greiðslusíða (Hosted Checkout) Straumur's white-label hosted checkout page where customers complete card payment before being redirected back to the merchant's online store. Supports card, Apple Pay, and Google Pay; merchants can customize the page with their own colors and logo. Pre-integrated with Shopify, WooCommerce, and Magento for rapid deployment.
• Greiðslugátt (Payment Gateway / Components)

Quantifiable outcome

• 10–30% increase in completed purchases with Apple Pay and Google Pay vs. traditional card entry
• +1 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration11 records

Feature10 records

Partnerships

Five partnerships are on record, tiered minor and core.

• UN Women IcelandminorGTM or Marketing Partner · 19 November 2025Straumur, in partnership with Adyen and UN Women Iceland, participated in the 16-day UN Women activism campaign against gender-based violence (November 25 – December 10, 2025). Merchants could enable a donation option at POS terminals allowing customers to contribute 500, 1,000, or 1,500 ISK. Straum and Adyen matched donations. All funds went to UN Women Iceland initiatives.
• UNICEF IcelandminorGTM or Marketing Partner · 1 October 2025In collaboration with Adyen and UNICEF Iceland, Straum ran a 10-day charitable giving campaign (October 9–19, 2025) enabling merchants to accept donations for Gaza children at their POS terminals. Straum and Adyen matched each krona donated. No fees were charged on donations, which appeared as a separate transaction on the cardholder's bank statement.
• AUR (by Kviku)coreTechnology or Integration · 18 February 2025AUR, also a subsidiary of Kviku bank, migrated its payment gateway to Straum. This internal partnership consolidates all of Kviku's payment acquiring operations under Straum, creating a unified payment platform within the Kviku group. The migration brings AUR's merchants onto Straum's Adyen-based infrastructure, enabling consolidated reporting, unified settlement, and shared customer support.
• AdyencoreTechnology or Integration · 4 January 2024Straumur signed a strategic partnership with Dutch fintech company Adyen for payment processing and product development. Adyen is a global financial technology company providing payment services to companies like H&M, Spotify, Uber, Electrolux, and Microsoft. Adyen handles the underlying payment infrastructure (acquiring, routing, risk scoring, card network connections) while Straum provides local Icelandic service, sales, and merchant support. The partnership gives Icelandic businesses access to world-class payment technology through a local Icelandic provider.
• Icelandic POS and accounting system providerscoreTechnology or IntegrationStraumur has pre-built integrations with the major Icelandic point-of-sale (POS) and accounting systems: DK (POS), LS Pay, SmartPOS (Wise), Regla, BC (accounting), DK (accounting), Tegra, Dynamix AX, and Uniconta. These integrations allow automatic transaction reporting and settlement data to flow directly into merchants' accounting systems, eliminating manual reconciliation.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Others

• Adyen: Straumur's technology partner and underlying infrastructure provider. Adyen is also a direct acquirer in many markets, making it both a critical supplier and a latent competitive threat to Straumur's economics.
• AUR (by Kviku): Fellow subsidiary of Kviku banka hf. in Iceland, operating a payment gateway that has now been migrated onto Straumur. A former internal peer whose merchant book now consolidates under Straumur, illustrating the parent-driven consolidation thesis.

Direct peers

• Borgun: One of the largest incumbent Icelandic payment processors, founded 1986. Straumur's CEO previously served as Business Division CEO at Borgun, and Borgun is the principal domestic competitor for both POS and online acquiring among Icelandic merchants.
• SaltPay: Nordic-headquartered payment and software company serving SMBs across the Nordics and the UK with acquiring, POS and business software. Comparable to Straumur as a vertically-integrated payments-and-software provider in a small regional market.
• Rapyd: Rapyd acquired Valitor in the merger that triggered the creation of Straumur and continues to operate payment infrastructure in Iceland. It is the most direct counterpart for Icelandic acquiring volume and competes for the same merchants on the same Adyen-class stack.
• Teya (formerly Global Payments Iceland): Teya operates the former Global Payments business in Iceland, providing acquiring and merchant services to Icelandic businesses. It is a direct competitor for the same merchant base that Straumur targets.

Broad incumbents

• Stripe: Global online payment processor with a hosted checkout, gateway and developer-first stack broadly comparable to Straumur's web payment solutions. Relevant benchmark for online acquiring UX, pricing and feature velocity.
• Worldline: One of Europe's largest payment processors, offering acquiring, POS and merchant services across multiple geographies. Relevant as a broad incumbent competing for international and cross-border volumes from Icelandic merchants.
• Nexi Group (incl. Nets): Pan-European payments incumbent following the Nets acquisition, offering card acquiring, POS and processing across the Nordics. A broad incumbent that can compete for larger Icelandic merchants and provides a useful benchmark for Nordic acquiring economics.

Emerging players

• Mollie: European payment service provider offering a multi-method checkout, gateway and acquiring to SMBs primarily in Western Europe. Comparable as a fast-growing, developer-led PSP targeting SMB merchants, though it does not currently serve Iceland.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/straumur-greidslumidlun

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Straumur