Greiðslugáttir

Greiðslugáttir are online payment gateways used in Iceland to process electronic transactions for e-commerce and other digital services. They act as intermediaries between a merchant’s website, the customer, and a payment processor or bank, enabling merchants to accept various payment methods in Icelandic krona and, in some cases, other currencies.

How they work: When a customer selects a payment method, the gateway securely transmits payment data to the processor or bank. Depending on the integration, the checkout may be hosted by the gateway (redirecting the customer) or embedded within the merchant’s site. The gateway handles authorization, and, if approved, initiates capture and settlement to the merchant. Many gateways offer fraud prevention tools, tokenization to reduce exposure to card data, recurring payments, and merchant reporting.

Security and standards: Gateways operate under payment industry standards such as PCI-DSS. They often support additional authentication such as 3D Secure and use tokenization to limit the handling of sensitive card information by the merchant.

Integration and options: Gateways provide APIs, software development kits, and plugins for common e-commerce platforms, allowing merchants to tailor the checkout experience while maintaining security and compliance. They may offer hosted payment pages or fully embedded checkout, depending on the merchant’s needs and technical resources.

Providers and market context: The Icelandic market is served by banks and payment service providers, including local institutions and international PSPs. The choice of gateway affects fees, available payment methods, settlement times, and integration complexity, making it a key consideration for online merchants operating in Iceland.