greiðslugjöldurum

Greiðslugjöldurum is an Icelandic term used in discussions of payment systems to describe the parties who bear the costs associated with processing payments in a transaction. The word combines greiðslu (payment) with gjald (fee) and is employed to refer to the group that incurs or is responsible for such charges, typically merchants who accept payments by card and, depending on contractual or regulatory arrangements, the payers themselves such as consumers or other businesses.

In practice, the concept covers a range of charges that can arise during a payment. Common forms include fixed per-transaction fees, percentage-based fees on the amount paid, and additional costs related to cross-border processing or currency conversion. The specific allocation of these costs—whether the merchant, the customer, or a combination bears them—depends on the terms of the merchant’s agreement with payment service providers, the payment instrument used, and applicable consumer protection or financial regulations.

Regulatory and policy context can influence who ends up paying. In Iceland and other countries within the European Economic Area, rules aimed at payment transparency, competition, and consumer protection shape fee disclosure and the ability of merchants to pass on costs to customers. Debates in this area often focus on price transparency and the impact of charges on pricing and card acceptance.

See also: payment processing, transaction fee, card payment surcharge, PSD2, Icelandic Financial Supervisory Authority.