Iceland

IS · ISL · 352EuropeISK kr22 methods

5 sources

Over 90% of all transactions in Iceland are made with payment cards — one of the world's highest card usage rates

$690 m

e-commerce spend · 2024e

~0.36M

online population

~22%

of total retail

~99%

banked adults

~90%

credit card population

Mix Methods Behaviour Banks Sources Facts

Payment mix

share of e-commerce spend · 2024e

CategoryShare

Card50%
E-Wallet30%
Bank Transfer12%
Cash5%
Other3%

Methods in use

top 8 of 22

MethodType

All 22 methods in Iceland →

Checkout behaviour

Cash represents just 2.3% of GDP, making Iceland one of the most cashless economies globally

78% of Icelanders used credit cards for a recent online purchase; 46% name it their preferred method

~22%

e-commerce of retail

Facts

ISO 3166: IS · ISL · 352
Region: Europe
Population: 0.38M
Currency: ISK kr
Internet use: ~96%
Banked adults: ~99%
Methods live: 22
Banks covered: 5

Largest banks

Compare with

Albania Bosnia and Herzegovina Cyprus Croatia

Sources

Something out of date?

Every figure on this page carries a source. Corrections are reviewed within a week.

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Figures are compiled from public sources, may be estimates and are not advice. Report an error · How we source data

Logos are trademarks of their owners. Trademarks and takedown →

Facts

ISO 3166: IS · ISL · 352
Region: Europe
Population: 0.38M
Currency: ISK kr
Internet use: ~96%
Banked adults: ~99%
Methods live: 22
Banks covered: 5

Largest banks

Compare with

Albania Bosnia and Herzegovina Cyprus Croatia

Sources

Something out of date?

Every figure on this page carries a source. Corrections are reviewed within a week.

Edit this country →

Figures are compiled from public sources, may be estimates and are not advice. Report an error · How we source data

Logos are trademarks of their owners. Trademarks and takedown →