Iceland · Payments & e-money
Rapyd Europe Hf
Legal name in the LEI recordRapyd Europe hf.
Rapyd Europe hf. is an Icelandic public limited company based in Hafnarfjörður. The Central Bank of Iceland authorises it as an electronic money institution. It belongs to the Rapyd payments group, and its annual accounts name Rapyd Financial Network (2016) Ltd. of Israel as its parent. It offers card acquiring, card terminals, online payment acceptance, payouts and virtual accounts to merchants in Iceland and the EEA, and card loans to consumers in Iceland. Rapyd bought the firm, then Valitor hf., from Arion Bank in July 2022 and merged its earlier Icelandic subsidiary into it in April 2023.
Licences and registrations
Held by Rapyd Europe hf. (LEI 54930082MGSGPZGYYI39). 2 entries on 1 of the 22 tracked registers, retrieved 25 September 2026.
| Register | Licence | Number | Jurisdiction | Status | Registered | Ends | Activities | Register entry |
|---|---|---|---|---|---|---|---|---|
| EBA PSD2 RegisterCentral Bank of IcelandLinked by LEI. Matched by Elucidate to GLEIF on name, country and address. | Electronic money institutionE-Money / Stored Value Institution | 5006830589 | Iceland | Active | 2023-04-11 | — |
|
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| EBA PSD2 RegisterCentral Bank of IcelandLinked by LEI. Matched by Elucidate to GLEIF on name, country and address. | Electronic money institutionE-Money / Stored Value Institution | 4306023650 | Iceland | Withdrawn | 2012-05-15 | Ended 2023-04-11 |
|
Search the register ↗ |
Trading names on the register: Rapyd | Rapyd á Íslandi (EBA-PSD2)
- Licences belong to the legal entity, not to a BIC.
- Each licence applies in the country of the regulator that granted it.
- Registers are tracked in 37 countries. Licences granted elsewhere are not recorded here.
- The register entries and their trading names were not matched against sanctions lists. The sanctions facts on this page cover the BIC and its LEI only.
Other register entries with this LEI
Shown for reference: they share the LEI but are not merged into this page
Swift network
Swift’s ISO 9362 BIC directory
- BIC
- VATOISREXXX head office
- Connection to Swift
- Connected to SwiftThis BIC is registered as a live address on the Swift network. The institution sends and receives Swift messages under VATOISRE directly.
- Swift GPI
- Not on the member list
- Payment schemes and systems
- No entry in the EPC registers, the ECB T2 and TIPS lists or the SIX Bank Master cites this BIC
- Branch codes
- None: head-office BIC only
- BIC first registered
- 2015-03-21
- Last updated
- 2023-07-22
Overview
Researched 29 Sep 2026 · Sources
Customers
Not published
Employees
Not published
Ownership
Group subsidiary
Rapyd Financial Network (2016) Ltd.
Firm type
Merchant acquiring and processing
Trades as Rapyd
- Standing
- The firm was formerly Valitor hf. In April 2023 it absorbed Rapyd's earlier Icelandic subsidiary, also named Rapyd Europe hf. (formerly Korta hf., kennitala 430602-3650), and took that name. The absorbed company's e-money registration was withdrawn on 11 April 2023.
- Ownership
- The firm's annual accounts name Rapyd Financial Network (2016) Ltd. as its parent, and the Central Bank of Iceland approved Target Global entities in June 2024 to hold up to 20% indirectly.
- Direct parent
- Rapyd Financial Network (2016) Ltd., Israel
- Head office
- Dalshraun 3, 220 Hafnarfjörður, Iceland
- Company register
- Iceland Revenue and Customs (Skatturinn) register of enterprises, kennitala 500683-0589
- Incorporated
- 1983
- Former name
- Valitor hf.
Online
- Websites & references
- rapyd.net ↗
rapyd.net ↗ Rapyd group website, including the firm's EEA terms and legal pages
docs.rapyd.net ↗ developer documentation (group)
innkaupavefur.valitor.is ↗ legacy Valitor procurement site, linked from the Icelandic footer - Official social accounts
- LinkedIn ↗ · X ↗ · Facebook ↗ · Instagram ↗ · YouTube ↗ · Discord ↗ · Threads ↗
Sources · 18 pages consulted
- rapyd.net/security-compliance/regulatory-framework/
- sedlabanki.is/frettir-og-utgefid-efni/grein/nidurstada-athugunar-a-adgerdum-rapyd-europe-hf-gegn-pening
- sedlabanki.is/frettir-og-utgefid-efni/grein/2024-06-28-Virkur-eignarhlutur-i-Rapyd-Europe-hf
- rapyd.net/is/
- rapyd.net/legal/
- rapyd.net/security-compliance/general-terms-eu/
- rapyd.net/blog/rapyd-og-valitor-hafa-nu-sameinast-formlega/
- rapyd.net/valitor-faq/
- rapyd.net/uk-merchants-faq/
- en.samkeppni.is/resolution/decisions/nr/4194
- cb.is/library/news-and-publications/publications/annual-reports/Annual_Report_2023_EN.pdf
- uzraudziba.bank.lv/en/market/payment-service-providers/payment-institutions/service-providers-from-the-eea/f
- bportugal.pt/en/entidadeautorizada/rapyd-europe-hf
- en.ja.is/rapyd/
- vb.is/frettir/greida-ut-fimm-milljarda-/
- visir.is/g/20262922705d/forstjorarnir-sem-moludu-gull-i-fyrra
- heimildin.is/grein/20964/forstjori-rapyd-segir-stjornarformann-sinn-ekki-radandi-hluthafa/
- view.news.eu.nasdaq.com/view?id=b500c76221088fc52ad5fbe004fba6e3c&lang=en
Authorisation
Researched 29 Sep 2026 · Sources
- Operates under
- Its own licences
The Central Bank of Iceland authorises the firm as an electronic money institution. It provides cross-border services in other EEA states under its passport, as the registers of Latvia, Lithuania, Estonia and Portugal show.
| Authority | Licence or registration | Number | Held | Status | Source |
|---|---|---|---|---|---|
| Central Bank of Iceland (Financial Supervisory Authority) Iceland | Electronic money institution | 500683-0589 | In its own name | Active | rapyd.net ↗ |
Licences and registrations the research found, at home and abroad, as the firm and its regulators publish them. The Licences and registrations card shows the entries on the registers the directory tracks.
Partners and safeguarding
Researched 29 Sep 2026 · Sources
- Safeguarding
- Segregated safeguarding accountsThe firm's EEA terms say it safeguards e-money funds as regulation requires and holds client funds in segregated bank accounts, which pay no interest to clients.
- Payment schemes and card networks
- Swift Direct
Banks and regulated firms the firm says hold its customers’ money, issue its cards, sponsor its accounts or settle its payments, as it discloses them in its terms and notices.
Products and markets
Researched 29 Sep 2026 · Sources
It provides in-store and online card acceptance, payment links, hosted checkout, payouts and virtual accounts for merchants, and card loans (kortalán) for individuals in Iceland.
It serves merchants in Iceland and, under its Icelandic e-money licence, across the EEA. Rapyd has moved its UK customers to sister company Rapyd Payments Ltd.
- Revenue
- ISK 47bn
- Sells to
- Small businesses · Enterprises · Platforms and marketplaces · Consumers
- Serves customers in
- Iceland
Leadership
Researched 29 Sep 2026 · Sources
- Chief executive
- Garðar Stefánsson Chief Executive Officer (forstjóri)
Recent events 1 enforcement or investigation item
Researched 29 Sep 2026 · Sources
-
Investigation
The Central Bank of Iceland published the findings of its on-site AML inspection of the firm, begun in October 2023 and concluded in December 2024.
sedlabanki.is ↗ -
Other
The Central Bank of Iceland found Target Global Holding Ltd. and Yaron Valler fit to hold an indirect qualifying holding of up to 20% in the firm.
sedlabanki.is ↗
Compliance-relevant events of the last three years, newest first: fines and enforcement, investigations, security incidents, licence changes, funding rounds, acquisitions and leadership changes. Each links to its source.
Identifiers
Head-office record
- BIC
- VATOISREXXX
- How the BIC breaks down
- VATOBank
- ISCountry · Iceland
- RELocation
- XXXBranch · head office
- Branch description
- Not recorded in the directory
- LEI
- 54930082MGSGPZGYYI39
- LEI record
- View on GLEIF ↗
- Licence no. · EBA-PSD2
- 5006830589
- Licence no. · EBA-PSD2
- 4306023650
- How the LEI was matched
- BIC: Mapped to this BIC in the Swift and GLEIF BIC-to-LEI relationship file.Register entries: Matched by Elucidate to GLEIF on name, country and address.
- Register-entry ID
- 022f8a4e811a
Profile
- Type
- Payments & e-moneyPayment institutions, e-money and stored-value issuers, and account-information providers. Licensed under payment-services law (e.g. PSD2 in the EU and UK, the Payment Services Act in Singapore). Taken from the licences on the tracked registers.
- Regulation
- Prudential licenceAuthorised with capital, safeguarding and conduct requirements, e.g. an authorised payment or e-money institution in the EU or UK, a major payment institution in Singapore, or a MiCA crypto-asset service provider.
- Register licences
- 2 entries on 1 register
- Activities
- Money remittance
- Payment services
- Card acquiring
- Payment initiation
- Account information
- E-money / stored value
- Licensed in
- Iceland
- Country · region
- Iceland · Europe & Central Asia
- Trading venues (MIC)
- No MIC registered under this LEI list of 2026-09-17
- OFAC sanctions
- No listing cites this BIC
- EU sanctions
- No listing matched this BIC or its LEI
- Country sanctions
- No country programme
Types come from Swift’s BIC classification, the licences on the 22 tracked registers, and the ECB and FSB bank lists. Most banks outside the euro area appear as financial institutions, because their supervisors’ registers are not tracked yet.
Ownership and group
GLEIF relationship records
GLEIF’s relationship records name no parent for this LEI, and no group page is published for it.
Addresses
- Registered address
- DALSHRAUN 3 FLOOR 4 HAFNARFJORDUR 220 ICELAND
- Operational address
- DALSHRAUN 3 FLOOR 4 HAFNARFJORDUR 220 HAFNARFJORDUR ICELAND
ISO 20022 identification
As an agent in a Swift cross-border payment message (CBPR+)
A CBPR+ message identifies this institution by its BIC, and may add its LEI or a clearing code. CBPR+ does not allow a name and postal address next to a BIC.
- Identified by
- BIC, with its LEI
- Roles in CBPR+
- Any agent, including the instructing and instructed agents
CBPR+
For cross-border payments on Swift: the BIC, with the LEI and clearing code where known
<FinInstnId>
<BICFI>VATOISREXXX</BICFI>
<LEI>54930082MGSGPZGYYI39</LEI>
</FinInstnId>Full record
Every ISO 20022 element the directory holds. Base ISO 20022 allows them together. CBPR+ does not allow a name and address next to a BIC
<FinInstnId>
<BICFI>VATOISREXXX</BICFI>
<LEI>54930082MGSGPZGYYI39</LEI>
<Nm>RAPYD EUROPE HF</Nm>
<PstlAdr>
<TwnNm>HAFNARFJORDUR</TwnNm>
<Ctry>IS</Ctry>
<AdrLine>DALSHRAUN 3 FLOOR 4 HAFNARFJORDUR 220</AdrLine>
</PstlAdr>
</FinInstnId>The BIC, name and address are as published in Swift’s BIC directory. The LEI comes from the Swift and GLEIF BIC-to-LEI file. Check them against your own records before use.
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Sources & method
Every value comes from a public source, such as Swift’s ISO 9362 BIC directory, GLEIF or the OFAC and EU sanctions lists. Most sources are matched on a BIC or an LEI, not on a name.
Swift GPI membership is matched on names and is indicative. A missing sanctions match does not mean that no listing applies. Always screen against the official lists.
Register entries are not screened against sanctions lists. The sanctions facts on this page cover the BIC and its LEI only.
An institution is one entry in the directory: a BIC8 in Swift’s directory, or a firm on a tracked register that holds no BIC. Licences held by an institution with a BIC are shown on its page.
Read the methodology →Credits for this page
- EBA PSD2 Register—European Banking Authority (EBA) · register ↗ as at 25 September 2026
- Overview, authorisation, partners, products, leadership and events—researched per institution by an AI model with web search, from the firm's own website, terms and filings, regulators' registers and notices, company registers and news. Licences, partners, figures, people and events link to their source, and each card shows the research date. AI research can be wrong or out of date, so check key facts at the source.
- Images—logos and photos from Wikimedia Commons (credited with their author and licence) or from the institution's own website, where Wikimedia has none. Elucidate keeps a copy of each; the links lead to the source and the original image. Logo: rapyd.net (official website) · original.
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