A payment facilitator, built from an empty repository.
Straumur asked Moberg to build a payment platform from scratch — onboarding, processing, settlement, portals, APIs. Kick-off was September 2022. The first live transaction ran in April 2023.
Straumur asked Moberg to build a payment platform from scratch — onboarding, processing, settlement, portals, APIs. Kick-off was September 2022. The first live transaction ran in April 2023.
Straumur is an Icelandic payment facilitator, part of the Kvika group ecosystem, serving merchants across in-person and e-commerce payments. It partners with Adyen, which acts as the card acquiring bank for its operations. Being new meant no legacy systems to fight — and also no systems at all. Everything a payment company needs to exist had to be written.
Moberg was engaged to build that platform end to end: the systems that take a merchant from signup to settled money, and the portals through which merchants, partners and Straumur's own staff run the business day to day.
The platform Moberg delivered covers the full merchant lifecycle: merchant onboarding, transaction processing and settlement, with separate portals for merchants, partners and administrators. On top of that sit public APIs, a hosted checkout, and a Shopify plugin so webshops can accept payments without touching the APIs directly. Integrations follow hosted-checkout and webhook/event patterns, so merchants get notified of what happened rather than polling for it.
Payment infrastructure has a particular property: it is payment-grade or it is nothing. There is no "MVP settlement". The architecture was treated as production financial infrastructure from the first commit — which is less a slogan than a description of how the test suites and reconciliation logic were prioritised.
A second engagement added the reporting layer: a Power BI implementation, delivered by three Moberg FTEs over five months. It covers dashboards for transaction volumes, processing times and payment trends; automated financial reconciliation, fraud-detection and compliance reports; and merchant performance and fee analysis. The operations team reads the same numbers finance reconciles against.
"The Moberg team is dependable, skilled, and a true pleasure to work with. They combine technical excellence with a flexible, solution-focused mindset and feel like an extension of our own team. Their support has been instrumental in helping us move fast without compromising on quality."
Every transaction ends in someone's settlement. A rounding bug in an ordinary product is a ticket; here it is a discrepancy in a merchant's payout. Reconciliation had to be automated and boring, on purpose.
Kick-off to first transaction in roughly seven months meant building onboarding, processing and settlement in parallel — without letting speed erode the payment-grade bar.
Merchant, partner and admin portals, public APIs, hosted checkout and a Shopify plugin all sit on the same core. Each new surface is a new way to be wrong; the contracts between them had to hold.
Straumur went from a project kick-off to processing real payments in about seven months, and the platform then carried more than 50 million transactions in its first 18 months. Launch day is the easiest day; the next ten years are the product — and the same platform, portals and integration surfaces that got Straumur live are the ones it now grows on.
The Power BI layer turned the transaction stream into something the business can actually steer by: volumes, processing times and payment trends for operations, reconciliation and compliance reporting for finance, and merchant performance and fee analysis for the commercial team. Fewer spreadsheets, one set of numbers.
Core platform: onboarding, transaction processing and settlement services.
Merchant, partner and admin portals on a shared component base.
Hosting and infrastructure for the full platform.
Dashboards, reconciliation, fraud-detection and compliance reporting.
Event-driven integration patterns so merchants are told, not left polling.
Delivered integration — webshops accept payments without custom API work.