European Payment Cards Yearbook

Iceland - Summary

Market Overview

  
Payment Organizations FGM (jointly-owned netting system).
   
Market Structure

Card use in Iceland is the highest in the world, reflecting extension of card payments into new areas. It remains to be seen how the countryÕs financial meltdown will affect card payments.

There were 54 million domestic payments on debit cards alone in 2008, equivalent to 180 per capita. Including credit cards, per capita payments were 340 in 2008.

The value of retail debit card payments was Û1.4 billion in 2008, equivalent to Û4,791 per capita.

   
Major Issuers Kaupthing, Glitnir/Islandsbanki, Landsbanki Islands and SPRON.
   

Key Statistics 2008

  
Population 300,000
Cards Debit: 475,000
Credit: 395,000
Total payment cards: 870,000

 

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