THE HISTORY OF VALITOR
Domestic operations since 1983
Five banks and 13 savings banks founded Visa Iceland in April of 1983. Operations began in July and card issuing began in December of the same year. Icelanders heartily embraced Visa and the early years of the company were ones of innovation and growth.
International acquiring since 2003
One of the first to get European cross border license, focusing on e-commerce. Attaining close to 30 partners in Europe and merchants in both ‘card present’ and ‘card not present’.
The company has been operating as Valitor hf. since 2007
The brand-new company headquarters are in suburban Reykjavik where nearly 200 employees serve customers today. Valitor is one of 4,000 members making up Visa Europe and is also a member of MasterCard Worldwide.
Entering the Nordic market in 2008
One of the first cross international acquirers to break up the acquiring monopoly on the Danish market. Focusing on Card Present in the beginning, but now also e-commerce. Working mainly through strategic partnerships, expanding to other Nordic countries in the process.
International issuing since 2011
Currently the second-largest prepaid issuer at Visa EU focusing on prepaid cards – B2B and B2C. Offering license and processing service to programme managers. UK market entry March 2011, opening an Office there in 2012.
Valitor develops new synergies with the creation and acquisition of two subsidiaries
Markadis is a UK company created to develop Valitor’s direct-channel in the UK and Ireland with local, experienced industry experts. Markadis is focused on acquiring for small and medium businesses, government, utilities, travel, health and insurance in selected geographic areas. The acquisition of AltaPay, a fast-growing, Denmark-based e-commerce payments management company provides Valitor with a unique payment platform for the Nordics and UK.
E-money licence in the UK since 2016
Valitor Payment Services acquired an e-money licence in the UK in December 2016.
Valitor acquires IPS ltd a UK based payment solutions provider
Valitor announced the acquisition of IPS ltd, a UK based leading secure payment solutions provider with immediate effect. The acquisition will see the consolidation of IPS’s powerful technology into Valitor’s own e-commerce solution, through its subsidiary AltaPay, one of Europe’s most innovative online, mobile and point of sale payment companies.