---
title: "Rapyd Europe Hf SWIFT/BIC code VATOISREXXX · Iceland | Elucidate"
description: "Licensed in Iceland: Electronic money institution (Central Bank of Iceland). SWIFT/BIC code VATOISREXXX for Rapyd Europe Hf, Iceland. Head-office BIC."
url: https://elucidate.co/directory/rapyd-europe-hf-vatoisre
---

1.  [Directory](https://elucidate.co/directory)
2.  [Iceland](https://elucidate.co/directory/country/is)
3.  Rapyd Europe Hf

![Rapyd logo](https://elucidate.co/images/banks/97/973af852e56e72fa.svg)

Iceland · Payments & e-money

# Rapyd Europe Hf

Legal name in the LEI record Rapyd 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.

Register status

Licensed in Iceland

Electronic money institution · Central Bank of Iceland

Prudential licence

[2 licences and registrations ↓](https://elucidate.co/directory/rapyd-europe-hf-vatoisre#licences)

BIC **VATOISREXXX** LEI **[54930082MGSGPZGYYI39](https://search.gleif.org/#/record/54930082MGSGPZGYYI39)** [Licence no. **5006830589**](https://elucidate.co/directory/rapyd-europe-hf-vatoisre#licences) Connected to Swift Head-office BIC only [Claim this profile](https://elucidate.co/directory/rapyd-europe-hf-vatoisre#claim)

## 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 Register](https://elucidate.co/directory/register/eba-psd2) Central Bank of Iceland Linked by LEI. Matched by Elucidate to GLEIF on name, country and address. | Electronic money institutionE-Money / Stored Value Institution | 5006830589 | [Iceland](https://elucidate.co/directory/country/is) | Active | 2023-04-11 | — | - Money remittance - Payment services - Card acquiring - Payment initiation - Account information - E-money / stored value | [Search the register ↗](https://euclid.eba.europa.eu/register/pir/search) |
| [EBA PSD2 Register](https://elucidate.co/directory/register/eba-psd2) Central Bank of Iceland Linked by LEI. Matched by Elucidate to GLEIF on name, country and address. | Electronic money institutionE-Money / Stored Value Institution | 4306023650 | [Iceland](https://elucidate.co/directory/country/is) | Withdrawn | 2012-05-15 | Ended 2023-04-11 | - Money remittance - Payment services - Card acquiring - Payment initiation - Account information - E-money / stored value | [Search the register ↗](https://euclid.eba.europa.eu/register/pir/search) |

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

-   [Valitor hf. · trading as Valitor No BIC Payments & e-money Prudential licence Inactive since 11 April 2023 Iceland · Licensed by Central Bank of Iceland · 5006830589 (EBA-PSD2) · LEI 54930082MGSGPZGYYI39 (also mapped to a BIC) LEI matched by Elucidate to GLEIF on name, country and address. Not merged: the register name differs from the name on this BIC.](https://elucidate.co/directory/valitor-hf-1048150a40fa)

## Swift network

Swift’s ISO 9362 BIC directory

- **BIC:** VATOISREXXX head office
- **Connection to Swift:** Connected to Swift
- **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](https://elucidate.co/directory/rapyd-europe-hf-vatoisre#overview-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 ↗](https://www.rapyd.net/is/) [rapyd.net ↗](https://www.rapyd.net/) Rapyd group website, including the firm's EEA terms and legal pages [docs.rapyd.net ↗](https://docs.rapyd.net/build-with-rapyd/docs) developer documentation (group) [innkaupavefur.valitor.is ↗](https://innkaupavefur.valitor.is/) legacy Valitor procurement site, linked from the Icelandic footer
- **Official social accounts:** [LinkedIn ↗](https://www.linkedin.com/company/rapydpayments) · [X ↗](https://twitter.com/RapydGlobal) · [Facebook ↗](https://www.facebook.com/rapydpayments) · [Instagram ↗](https://www.instagram.com/wearerapyd/) · [YouTube ↗](https://www.youtube.com/channel/UCQEgwX9qILl5NAsRULVRZWA) · [Discord ↗](https://discord.com/invite/Sq38qzcYHv) · [Threads ↗](https://www.threads.net/@rapydglobal)

Sources · 18 pages consulted

1.  [rapyd.net/security-compliance/regulatory-framework/](https://www.rapyd.net/security-compliance/regulatory-framework/)
2.  [sedlabanki.is/frettir-og-utgefid-efni/grein/nidurstada-athugunar-a-adgerdum-rapyd-europe-hf-gegn-pening](https://sedlabanki.is/frettir-og-utgefid-efni/grein/nidurstada-athugunar-a-adgerdum-rapyd-europe-hf-gegn-peningathvaetti-og-fjarmognun-hrydjuverka)
3.  [sedlabanki.is/frettir-og-utgefid-efni/grein/2024-06-28-Virkur-eignarhlutur-i-Rapyd-Europe-hf](https://sedlabanki.is/frettir-og-utgefid-efni/grein/2024-06-28-Virkur-eignarhlutur-i-Rapyd-Europe-hf)
4.  [rapyd.net/is/](https://www.rapyd.net/is/)
5.  [rapyd.net/legal/](https://www.rapyd.net/legal/)
6.  [rapyd.net/security-compliance/general-terms-eu/](https://www.rapyd.net/security-compliance/general-terms-eu/)
7.  [rapyd.net/blog/rapyd-og-valitor-hafa-nu-sameinast-formlega/](https://www.rapyd.net/blog/rapyd-og-valitor-hafa-nu-sameinast-formlega/)
8.  [rapyd.net/valitor-faq/](https://www.rapyd.net/valitor-faq/)
9.  [rapyd.net/uk-merchants-faq/](https://www.rapyd.net/uk-merchants-faq/)
10.  [en.samkeppni.is/resolution/decisions/nr/4194](https://en.samkeppni.is/resolution/decisions/nr/4194)
11.  [cb.is/library/news-and-publications/publications/annual-reports/Annual\_Report\_2023\_EN.pdf](https://cb.is/library/news-and-publications/publications/annual-reports/Annual_Report_2023_EN.pdf)
12.  [uzraudziba.bank.lv/en/market/payment-service-providers/payment-institutions/service-providers-from-the-eea/f](https://uzraudziba.bank.lv/en/market/payment-service-providers/payment-institutions/service-providers-from-the-eea/freedom-to-provide-services/rapyd-europe-hf/)
13.  [bportugal.pt/en/entidadeautorizada/rapyd-europe-hf](https://www.bportugal.pt/en/entidadeautorizada/rapyd-europe-hf)
14.  [en.ja.is/rapyd/](https://en.ja.is/rapyd/)
15.  [vb.is/frettir/greida-ut-fimm-milljarda-/](https://vb.is/frettir/greida-ut-fimm-milljarda-/)
16.  [visir.is/g/20262922705d/forstjorarnir-sem-moludu-gull-i-fyrra](https://www.visir.is/g/20262922705d/forstjorarnir-sem-moludu-gull-i-fyrra)
17.  [heimildin.is/grein/20964/forstjori-rapyd-segir-stjornarformann-sinn-ekki-radandi-hluthafa/](https://heimildin.is/grein/20964/forstjori-rapyd-segir-stjornarformann-sinn-ekki-radandi-hluthafa/)
18.  [view.news.eu.nasdaq.com/view?id=b500c76221088fc52ad5fbe004fba6e3c&lang=en](https://view.news.eu.nasdaq.com/view?id=b500c76221088fc52ad5fbe004fba6e3c&lang=en)

## Authorisation

Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/rapyd-europe-hf-vatoisre#overview-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 ↗](https://www.rapyd.net/security-compliance/regulatory-framework/) |

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](https://elucidate.co/directory/rapyd-europe-hf-vatoisre#overview-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. [rapyd.net ↗](https://www.rapyd.net/security-compliance/general-terms-eu/)
- **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](https://elucidate.co/directory/rapyd-europe-hf-vatoisre#overview-sources)

-   Merchant acquiring
-   Payment gateway
-   Payouts and mass payments
-   Multi currency accounts
-   E-money wallet
-   Card-issuing platform
-   Lending

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 47bnThis entity · 31 Dec 2025 · [annual report ↗](https://vb.is/frettir/greida-ut-fimm-milljarda-/)
- **Sells to:** Small businesses · Enterprises · Platforms and marketplaces · Consumers
- **Serves customers in:** Iceland

## Leadership

Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/rapyd-europe-hf-vatoisre#overview-sources)

- **Chief executive:** Garðar Stefánsson Chief Executive Officer (forstjóri) Confirmed 18 Aug 2026 · [visir.is ↗](https://www.visir.is/g/20262922705d/forstjorarnir-sem-moludu-gull-i-fyrra)

## Recent events 1 enforcement or investigation item

Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/rapyd-europe-hf-vatoisre#overview-sources)

1.  Jul 2025

    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 ↗](https://sedlabanki.is/frettir-og-utgefid-efni/grein/nidurstada-athugunar-a-adgerdum-rapyd-europe-hf-gegn-peningathvaetti-og-fjarmognun-hrydjuverka)

2.  Jun 2024

    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 ↗](https://sedlabanki.is/frettir-og-utgefid-efni/grein/2024-06-28-Virkur-eignarhlutur-i-Rapyd-Europe-hf)

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:** 1. VATO Bank 2. IS Country · Iceland 3. RE Location 4. XXX Branch · head office
- **Branch description:** Not recorded in the directory
- **LEI:** 54930082MGSGPZGYYI39
- **LEI record:** [View on GLEIF ↗](https://search.gleif.org/#/record/54930082MGSGPZGYYI39)
- **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-money
- **Regulation:** Prudential licence
- **Register licences:** [2 entries on 1 register](https://elucidate.co/directory/rapyd-europe-hf-vatoisre#licences)
- **Activities:** - Money remittance - Payment services - Card acquiring - Payment initiation - Account information - E-money / stored value
- **Licensed in:** [Iceland](https://elucidate.co/directory/country/is)
- **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

```xml
<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

```xml
<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.

## Related institutions

### Other payments & e-money institutions in Iceland

-   [Blikk hugbúnaðarþjónusta hf. No BIC Payments & e-money Prudential licence Iceland · Licensed by Central Bank of Iceland · 530922-1620 (EBA-PSD2) · LEI 9845003BE3EC0E3BE412](https://elucidate.co/directory/blikk-hugbuna-ar-jonusta-hf-17369821c587)
-   [Monerium ehf. No BIC Payments & e-money Prudential licence Iceland · Licensed by Central Bank of Iceland · 5505121060 (EBA-PSD2) · No LEI mapped](https://elucidate.co/directory/monerium-ehf-707d2f8d47b6)
-   [Straumur greiðslumiðlun hf. No BIC Payments & e-money Prudential licence Iceland · Licensed by Central Bank of Iceland · 6209221020 (EBA-PSD2) · LEI 636700DUNR2YSEKH8381](https://elucidate.co/directory/straumur-grei-slumi-lun-hf-6bdc965f8137)

[See all →](https://elucidate.co/directory/search?type=payments&cc=IS)

Claim this profile

## Work at Rapyd Europe Hf?

Claim this page to have it marked as verified by the bank, and to send us corrections. We verify every claim before anything changes on the page.

1.  01 **Submit** Tell us who you are, using your work email.
2.  02 **We verify** We check the email domain and confirm your role with the bank. This usually takes up to five business days.
3.  03 **Profile claimed** The page is marked as claimed and verified. You can send us corrections at any time.

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 →](https://elucidate.co/directory/methodology)

Credits for this page

-   **EBA PSD2 Register**—European Banking Authority (EBA) · [register ↗](https://euclid.eba.europa.eu/register/pir/search) 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](https://www.rapyd.net/is/) (official website) · [original](https://www.rapyd.net/wp-content/uploads/2022/08/rapyd-logo-white.svg).

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Licence and registration data are drawn from the public registers of the regulators named on each page and shown for information only; the official register is always the authority. LEIs and ownership are from GLEIF. Directory and gpi data are drawn from SWIFT's public sources. SWIFT, Swift gpi and UETR are trademarks of S.W.I.F.T. SC, Avenue Adèle 1, 1310 La Hulpe, Belgium. Elucidate is not affiliated with, endorsed by or sponsored by SWIFT or any regulator named here. Elucidate does not provide payment or other financial services.