Adyen and Straumur to Enhance Payment Processing in Iceland

Adyen, a global financial platform based in the Netherlands, announced the beginning of cooperation with the Icelandic firm Straumur, which is a subsidiary of Kvika.

Adyen and Straumur to Enhance Payment Processing in Iceland

Straumur is a payment provider that affords transaction processing services for appropriate functional purposes in various spaces, including grocery stores, pharmacies, gas stations, and restaurants. The geography of the company’s activities is limited by the borders of Iceland.

As part of the partnership, the two firms intend to carry out a profound transformation of the payment processing system of financial operations in the specified country. Adyen and Straumur, combining their most effective and reliable solutions, strive to offer more optimized products to Icelandic consumers. In this case, the level of service to sellers and buyers will be increased.

Adyen is currently one of the leaders in the global financial technology market. The company offers comprehensive payment solutions for businesses around the world. The firm provides a single platform for processing data used to simplify the procedure for making transactions across different sales channels and markets. This functioning mechanism also helps to better understand the needs of customers to further improve their experience.

Straumur specializes in processing local payments in Iceland. This company processes about 25% of all relevant transactions in the mentioned country. The firm’s infrastructure supports personal payments, mobile apps, and e-commerce. Currently, the company serves more than 1,700 sellers.

As part of the partnership, Adyen will act as a card-acquiring bank for Straumur transactions. The purpose of the companies’ cooperation is to provide consumers with a single trading function. The partnership participants also strive to simplify payment processes and improve the quality of customer service through various channels.

This cooperation is strategic. Also, the special significance of partnerships lies in the fact that Adyen begins the history of its presence in the Icelandic financial services market. In this case, there is observed a desire for Straumur to improve its technical capabilities and expand the range of services provided to customers.

Tobias Lindh, Managing Director of Adyen for the Nordic and Baltic countries, said that this company is proud to cooperate with those representatives of the payment industry who ensure its progress. He noted that the brand is pleased with the beginning of the history of presence in the Icelandic market and the partnership with Straumur as an acquiring bank. According to him, the second cooperation participant’s offer in processing payment transactions at the local level, combined with the Adyen financial technology platform, will provide simpler, safer, and more trouble-free operations for consumers throughout Iceland.

Lilja Ólafsdóttir, Managing Director of Straumur, stated that the company strives to offer outstanding solutions to its customers. She noted that the brand’s approach goes beyond the traditional algorithm of the payment transactions processing procedure. The company perceives itself as a client’s partner and helps consumers grow. She stated that cooperation with the global financial services platform will allow Straumur to improve its technical capabilities and expand the list of products aimed at customers.

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