Adyen (AMS: ADYEN), the global financial platform of choice for leading companies, is pleased to announce that the company is entering a partnership with Straumur, a subsidiary of Kvika.
Straumur is a payment provider that “processes payments in several verticals on the Icelandic market, including but not limited to grocery stores, restaurants, pharmacies and gas stations.”
Straumur currently processes “approximately 25% of the payments within the Icelandic market.”
Their payments infrastructure reportedly “includes in-person payments, e-commerce and apps for their 1700 merchants.”
The collaboration means that Adyen will act “as the card acquiring bank for Straumur’s operations.”
Together, the parties will “create simpler and more seamless payments for Straumur’s merchants and end-consumers. With the help of Adyen, merchants can collect all payment data from all sales channels, markets and consumers on the same platform.”
In this way, Straumur can “implement Adyen’s Unified Commerce function and create better customer insights, customer journeys and customer experiences across all consumer channels for commerce.”
Tobias Lindh, Managing Director, Adyen Nordics & Baltics, said:
”At Adyen we pride ourselves in working with partners that push the world of payments forward. That’s why we’re excited to enter the Icelandic market and partner with Straumur as their acquiring bank. Their local payment processing offering combined with our financial technology platform will ensure easier, safer and more seamless payments for consumers all over Iceland,”
Lilja Ólafsdóttir, Managing Director of Straumur, said:
“At Straumur, we are committed to offering outstanding payment solutions for our customers. Our approach goes beyond traditional payment processing – we see ourselves as partners with our customers and want to help them grow. This collaboration with a new, powerful transaction acquirer enables us to boost our technical capacity and significantly widen the range of services we offer.”
As noted in the update, Adyen says that it is “the fintech platform used by many of the world’s leading companies.”
By offering end-to-end payments, data-driven insights and financial products in a single, globally operating solution, Adyen helps businesses “achieve their goals faster. Adyen has offices in several different countries and works with companies such as H&M, Spotify, Uber, Electrolux and Microsoft.”
As mentioned in the announcement, Straumur is “a subsidiary of Kvika Bank hf and was established in connection with the acquisition and disposal of merchant portfolios in Iceland, which today make up approximately 25% of the Icelandic market.”
