By 2026, Iceland's e-commerce sector is expected to generate €1.2 billion, reflecting steady growth driven by increased internet access and digital literacy. Mobile payments are becoming dominant, with 68% of online transactions completed on smartphones, signaling a shift towards more convenient, app-based payment solutions. Digital wallets are also gaining popularity, used by over half of consumers, which enhances quick and secure checkout experiences.
The adoption of credit cards remains strong, accounting for 42% of online payments, while bank transfers still serve as a trusted method for a significant segment. Iceland's digital infrastructure and consumer preferences indicate a move towards seamless, integrated payment ecosystems, supporting the country’s position as a digitally mature economy.