Regulatory Alerts2026-06-03
Added · Updated
Offline Card Payments
The Central Bank enables offline credit and debit card payments in Iceland up to 50,000 krónur per card issued to a person of legal age, provided the physical plastic card is inserted into a terminal and the PIN is entered for necessities such as groceries, fuel, or medicine. Issuers may set higher limits or allow other goods, and cardholders must activate offline functionality by making a PIN-verified transaction, a process available from 1 July 2026, while cards issued on or after that date automatically contain the authorization.
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