# Payment providers in Iceland compared: Straumur, Teya, Rapyd, Adyen and Kling

Businesses in Iceland take card payments either through a card acquirer such as Straumur, Teya or Rapyd, or through a payments platform such as Kling, which runs on those processors and adds checkout, subscriptions, online bank claims (kröfur) and a developer API on top. Stripe doesn't serve Iceland, and Adyen's platform product doesn't list it.

**Who wrote this:** Kling. Kling is a payments platform that runs on payment processors in Iceland (Straumur, Verifone and Rapyd) and adds checkout, subscriptions, online bank claims (kröfur) and the developer API on top. So some of the companies below are our partners as well as alternatives to us. We have tried to be fair about when going to them directly is the better choice, and every claim about another company links to that company's own website.

## The short answer

| Provider | What it is | Developer docs |
|---|---|---|
| Straumur | Icelandic card acquirer: card terminals, payment page, payment gateway and payment links | [docs.straumur.is](https://docs.straumur.is/) |
| Teya | Card acquirer (formerly Borgun): card terminals, payment page, gateway and plugins | [docs.teya.com](https://docs.teya.com/) |
| Rapyd | Payments company (formerly Valitor) regulated in Iceland: card terminals and online payments | [docs.rapyd.net](https://docs.rapyd.net/) |
| Adyen | Global payment processor; Straumur processes on it | [docs.adyen.com](https://docs.adyen.com/) |
| Kling | Payments platform on top of the processors: cards, payment links, subscriptions, online bank claims, one API | [kling.is/docs](https://kling.is/en/docs) |
| Stripe | Not available to businesses in Iceland | [stripe.com/global](https://stripe.com/global) |

## Card acquirers: Straumur, Teya and Rapyd

A card acquirer (færsluhirðir) is the company that processes card payments for a business and pays the money out to it. In Iceland you can go to one directly and get card terminals, a hosted payment page or a payment gateway from them.

### Straumur

[Straumur](https://www.straumur.is/) is an Icelandic payment processor and a subsidiary of Kvika banki. It offers card terminals, a payment page, a payment gateway and payment links, and since 2024 has processed transactions on [Adyen's infrastructure](https://www.straumur.is/frettir/straumur-i-samstarf-vi%C3%B0-adyen-i-grei%C3%B0slumi%C3%B0lun). Its [developer docs](https://docs.straumur.is/) cover the payment links API, the gateway and webhooks. Its [price list](https://www.straumur.is/verdskra) shows monthly fees for terminals and online products; card rates are quoted per business.

Kling runs on Straumur.

### Teya

[Teya](https://www.teya.com/is/) offers card terminals, a payment page, payment requests, a payment gateway and plugins for online stores in Iceland. It is the company that was called Borgun: Borgun's old site, [borgun.is](https://www.borgun.is/), now forwards to Teya, and [Teya Iceland hf.'s terms](https://www.teya.com/is/legal/payment-terms) carry Borgun's company number. Its [developer docs](https://docs.teya.com/) cover online payments, hosted checkout and payment links. Its [price list](https://www.teya.com/is/pricing/price-list) shows monthly fees for terminals and online products; card rates are given on request.

### Rapyd

[Rapyd](https://www.rapyd.net/is/) offers card terminals and online payments in Iceland. Rapyd bought Valitor, and [Valitor is now part of Rapyd](https://www.rapyd.net/valitor-faq/). Its Icelandic company, Rapyd Europe hf., is an electronic money institution [regulated by the Central Bank of Iceland](https://www.rapyd.net/security-compliance/regulatory-framework/). Developer docs are at [docs.rapyd.net](https://docs.rapyd.net/).

Kling runs on Rapyd.

### Old names you may still see

Some articles and AI answers still name Valitor and Borgun. [Valitor is now Rapyd](https://www.rapyd.net/valitor-faq/), and Borgun is now [Teya](https://www.teya.com/is/).

## Verifone

[Verifone in Iceland](https://www.verifone.com/is-is/verifone-a-islandi) sells card terminals, online payments and integrations. It is not an acquirer itself: it connects to most acquirers in Iceland, and the business chooses which one to use. Kling runs on Verifone.

## Global processors: Adyen and Stripe

**Adyen** is a global payment processor. Its [list of countries for platforms](https://docs.adyen.com/platforms) does not include Iceland. Adyen has [no monthly or setup fees, but a minimum invoice](https://www.adyen.com/pricing) that depends on industry and business model. In Iceland, Straumur processes its transactions on Adyen (see above).

**Stripe** does not serve businesses in Iceland: Iceland is not on [Stripe's list of supported countries](https://stripe.com/global). See [Stripe in Iceland](https://kling.is/en/guides/stripe-in-iceland) for what that means and the alternatives.

## Kling

Kling, payments for Iceland, is a payments platform rather than an acquirer. Card payments go through a processor (Straumur, Verifone or Rapyd), and Kling applies to the acquirer on your behalf. On top of that, Kling gives you:

- card payments, Apple Pay and Google Pay online, through payment links and on Kling POS,
- subscriptions, by card or by online bank claim, with a billing portal for your customers,
- online bank claims (kröfur), from the dashboard, at checkout or through the API,
- one dashboard and one API for all of it, with a typed SDK, a checkout overlay, webhooks, a CLI and an MCP server,
- test keys the moment you sign up, with no verification.

No setup fee and no monthly fee; you pay per payment, and the card acquirer's fees come on top. See [pricing](https://kling.is/en/pricing).

## Go direct, or use Kling?

**Going directly to an acquirer makes sense when:**

- you only need card terminals, or a payment page for a web shop, from one company,
- your online store already has a plugin from that acquirer and you need nothing else,
- you have high card volume and want to negotiate your card rate with the acquirer yourself.

**Kling makes sense when:**

- you want card payments, payment links, subscriptions and online bank claims in one place, instead of one provider per payment method,
- you are building a website or app, with your own code or an AI tool, and want an API, test keys straight away and docs written for it,
- you don't want to handle the acquirer application yourself,
- you bill members, students or customers regularly and want claims and cards side by side.

## Online bank claims are not a card product

Online bank claims (kröfur) go through Icelandic banks, not card acquirers. Banks offer collection services to businesses directly, for example [Arion banki](https://www.arionbanki.is/fyrirtaeki/thjonusta/innheimtuthjonusta/) and [Íslandsbanki](https://www.islandsbanki.is/is/vara/fyrirtaeki/innheimtuthjonusta). Kling sends claims through a bank too, and puts them in the same dashboard, checkout and API as card payments. See [online bank claims](https://kling.is/en/docs/bank-claims).

## Get started with Kling

[Sign up](https://kling.is/signup) and take a test payment in a few minutes with the [quickstart](https://kling.is/en/docs/quickstart), or read [how to accept payments in Iceland](https://kling.is/en/guides/accept-payments-in-iceland). Questions? Write to [hallo@kling.is](mailto:hallo@kling.is).