Straumur is a company in the portfolio of Kvika Bank that offers innovative and secure payment processing services for merchants in Iceland, with an emphasis on e-commerce and POS transaction processing.

We partnered with Straumur to develop a platform with a wide range of payment solutions, including modernized tools for merchants who want to enhance their business operations. 

Solution

Faced with an ambitious timeline, Icelandic settlement standards, and the challenge of creating an end-to-end payment ecosystem from scratch, Straumur partnered with us to deliver a high-performing, scalable platform. From the first transaction processed in April 2023 to handling over 50 million transactions in just 18 months, the system was built to withstand volume and complexity from day one.

Our engineering team delivered a suite of merchant- and partner-focused solutions designed for ease of use and rapid deployment. Custom-built self-service portals and partner management tools allow businesses to onboard quickly and operate independently. Meanwhile, Straumur’s internal team benefits from a robust admin portal tailored for efficient merchant support and real-time oversight. To support a wide range of integration needs, the system also includes flexible APIs for software-based merchants.

Looking ahead, Moberg is expanding Straumur’s digital commerce capabilities through a growing set of e-commerce tools—including hosted checkout, “Pay by Link” functionality, and a Shopify plugin. This enables Straumur to support Icelandic merchants not just in physical stores, but across the digital landscape, offering secure, modern, and locally-driven payment options.