The Founder´s Legacy

Thor Magnusson is an Icelandic businessman who pioneered payment cards in Iceland and became well known for his peace activism as an Icelandic Presidential Candidate. 

The Architect of Cashless Society:

Thor founded Iceland´s first credit card company that transformed the country from paper based retail to electronic business. Software developed by Kreditkort hf was later licensed to other Mastercard operators in Europe.

Celebrating 50 Years in Business:

In 2026 Thor is celebrating half a century in international business with IT technology, aviation, real estate, hospitality, food supplements, gold trading and automobiles.

His company Islandus Europe ehf was awarded 1st class credit rating by Credit Info Iceland (Dun and Bradstreet) better than 94% of all Icelandic companies.