Valitor
Valitor is an Icelandic merchant-services, payment-acquiring, card-issuing and payment-gateway company that operates as part of Rapyd.
Last updated August 31, 2026
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Overview
Valitor is an Icelandic payments company headquartered in Hafnarfjörður. Its activities span merchant services, card acquiring, card issuing and payment-gateway solutions, with a particular role in enabling card acceptance and online commerce. The company is a partner of both Visa and Mastercard in Iceland and has also offered international online and e-commerce services. The business originated in 1983, when five Icelandic banks and thirteen savings banks established the organization under the name Visa Iceland. Its original institutional foundation reflected the development of Iceland's domestic card-payment infrastructure and its connection to the Visa network. In 2007, Greiðslumiðlun hf. adopted the Valitor name as part of an effort to support broader international activity. The rebrand positioned the organization beyond a purely Icelandic card-processing identity and toward a wider payments-services proposition. Valitor's business has included services for merchants and payment acceptance, card programs and issuing, and technology for processing online transactions. Its payment-gateway capabilities have been relevant to e-commerce businesses and other organizations that need to accept card payments through digital channels. In 2015, the company was selected as one of six providers to service Apple Pay in Europe, a development that linked its acquiring and payments infrastructure to a major mobile-wallet ecosystem. In 2017, it expanded its United Kingdom presence by acquiring Chip & PIN Solutions, a UK-based payments company. The company also became involved in a major dispute concerning payments to WikiLeaks. In December 2010, following the publication of United States diplomatic cables and Afghan War documents, Valitor suspended payment processing for DataCell, the company handling donations to WikiLeaks. DataCell challenged the suspension, and in July 2012 a Reykjavík court ordered Valitor to resume processing within fourteen days, subject to daily fines, and to pay DataCell's litigation costs. The episode placed a payment intermediary at the center of a wider debate about financial access, political pressure and the role of payment networks in restricting transactions. Valitor faced further public criticism in 2020 after dismissing fourteen entry-level employees at its Glasgow branch during the COVID-19 pandemic. The company described the action as business restructuring, while critics alleged that the pandemic was being used to justify the dismissals and contrasted the redundancies with the furloughing of human-resources and senior-management staff. Valitor is now part of Rapyd, a global payments and financial-technology platform. Within that ownership structure, Valitor's historical strengths in acquiring, issuing and payment gateways complement Rapyd's broader infrastructure for payouts, foreign exchange, collections, card issuance, disbursements and virtual IBAN accounts. Publicly available reference material does not establish a separate current executive roster, financial profile or standalone listed status for Valitor.
History
Valitor was established in Iceland in 1983 by five banks and thirteen savings banks. It initially operated under the name Visa Iceland, reflecting its role in developing and supporting Visa-related card services in the Icelandic market. The organization later became known as Greiðslumiðlun hf. and, in 2007, changed its name to Valitor. The rebranding was intended to support a more international business profile rather than confine the organization to its original domestic card-network identity. Over time, Valitor developed a broad payments-services portfolio. Its activities included merchant services, card acquiring, card issuing and payment gateways, as well as online and e-commerce payment capabilities. In Iceland, it became a partner of both Visa and Mastercard. Its international focus was expressed through digital payment services and relationships with merchants and businesses operating beyond Iceland. Valitor's history also includes a highly visible dispute over payment access. On 7 December 2010, the company suspended payment processing for DataCell, the organization processing donations for WikiLeaks. The decision followed the release of United States diplomatic cables in February 2010 and Afghan War documents in July 2010. DataCell challenged the suspension in court. On 12 July 2012, a Reykjavík court ordered Valitor to resume processing donations within fourteen days. The order provided for daily fines of ISK 800,000 for each day of non-compliance and required Valitor to pay ISK 1,500,000 in DataCell's litigation costs. The dispute made Valitor an example in debates about the responsibilities of payment companies and the use of financial infrastructure to limit access to controversial organizations. In 2015, Valitor was selected as one of six companies to service Apple Pay in Europe. This connected its payments infrastructure with a major mobile-wallet initiative and demonstrated its participation in the European digital-payments ecosystem. In July 2017, Valitor acquired Chip & PIN Solutions in the United Kingdom, adding a UK-based payments business and extending its regional footprint. The company attracted renewed criticism in April 2020 during the COVID-19 pandemic. Valitor dismissed fourteen entry-level employees at its Glasgow operation, describing the move as a restructuring. Critics argued that the company was using the pandemic to justify the layoffs and pointed to the continued retention of human-resources and senior-management personnel through furlough arrangements. The episode was reported as a labor and corporate-governance controversy rather than as a change to Valitor's core product strategy. Valitor subsequently became part of Rapyd, a global payments and fintech-as-a-service company. Rapyd's broader platform includes APIs and services associated with payouts, foreign exchange, fund collection, card issuance, fund disbursement and virtual IBAN accounts. Valitor's acquiring, issuing and gateway heritage therefore sits within a larger international financial-technology group. The supplied reference material does not provide a reliable acquisition date, current executive list, current standalone financial statements or a current corporate website, so those details are left unspecified.
- 2020
Glasgow workforce controversy
[1]Fourteen entry-level Glasgow employees are dismissed during the COVID-19 pandemic, prompting criticism of the company's restructuring and furlough practices.
- 2017
Chip & PIN Solutions is acquired
[1]Valitor buys UK-based Chip & PIN Solutions.
- 2015
Selected for Apple Pay services in Europe
[1]Valitor is named one of six companies selected to service Apple Pay in Europe.
- 2012
Court orders restoration of DataCell payments
[1]A Reykjavík court orders Valitor to reopen the payment gateway and awards DataCell litigation costs.
- 2010
DataCell payment processing is suspended
[1]Valitor suspends processing for DataCell, which handled donations to WikiLeaks.
- 2007
Greiðslumiðlun adopts the Valitor name
[1]Greiðslumiðlun hf. changes its name to Valitor as part of an effort to pursue international services.
- 1983
Visa Iceland is founded
[1]Five banks and thirteen savings banks establish the organization that would become Valitor under the name Visa Iceland.
Products and positioning
A payments-infrastructure provider combining Icelandic Visa and Mastercard expertise with merchant acquiring, card issuing and digital payment-gateway services. As part of Rapyd, Valitor is positioned within a broader global fintech and payments ecosystem.
Payment processing
Merchant acquiring
Valitor provides merchant-acquiring capabilities that enable businesses to accept card payments. Its Icelandic activities are connected with both Visa and Mastercard, while its wider service profile has supported merchants requiring payment acceptance and processing infrastructure across digital and international contexts.
E-commerce payments
Payment gateways
The company's payment-gateway services support online transaction acceptance and are designed for e-commerce and other digital payment environments. The gateway capability has also been central to Valitor's role in the DataCell litigation, which concerned access to a payment-processing channel.
Card services
Card issuing
Valitor's portfolio includes card-issuing services in addition to acquiring and merchant processing. These capabilities place the company on both sides of card payments: helping businesses accept transactions and supporting payment-card programs within the infrastructure of its network partnerships.
Digital payments
Online and e-commerce solutions
Valitor offers online and e-commerce payment solutions for organizations operating through digital channels. These services extend its original Icelandic card-processing role into international internet commerce and form part of the payments infrastructure now associated with its ownership by Rapyd.
Controversies
2020
Criticism over Glasgow layoffs during the COVID-19 pandemic
Valitor dismissed fourteen entry-level Glasgow employees while describing the action as restructuring. Critics alleged that the pandemic was being used to justify the dismissals and questioned the retention and furlough treatment of other staff groups.
2010
WikiLeaks payment-processing dispute
Valitor suspended payment processing for DataCell, which handled WikiLeaks donations, after major WikiLeaks document releases. A later Reykjavík court ruling required Valitor to restore the service and pay litigation costs.
Brand decisions
2017
Acquisition of Chip & PIN SolutionsM&ABackground
Valitor sought to expand its international presence and acquired a UK-based payments company.
Action taken
Valitor bought Chip & PIN Solutions.
Aftermath
The transaction expanded Valitor's presence in the United Kingdom.
2010
Suspension of DataCell payment processingOtherBackground
DataCell processed donations for WikiLeaks after the publication of United States diplomatic cables and Afghan War documents.
Action taken
Valitor suspended payment processing for DataCell.
Aftermath
DataCell pursued legal action, and a Reykjavík court ordered Valitor in 2012 to resume processing under threat of daily fines.
2007
Rebrand from Greiðslumiðlun to ValitorStrategyBackground
The company sought to develop services beyond its original Icelandic identity and support greater international activity.
Action taken
Greiðslumiðlun hf. changed its corporate name to Valitor.
Aftermath
Valitor continued operating as an Icelandic payments provider with merchant, acquiring, issuing and gateway services.
Recent events
- 2017
Valitor acquires Chip & PIN Solutions[1]
M&A
Valitor purchased Chip & PIN Solutions, a payments company based in the United Kingdom, expanding its presence in the UK payments market.
- 2015
Valitor selected as an Apple Pay service provider in Europe[1]
Product launch · Other
Valitor was selected as one of six companies to service Apple Pay in Europe.
Sources1 sources
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