Borgun was established on the 13th of January 1980, and was the first issuer and acquirer of credit cards in Iceland. Today the company provides acquiring services to merchants and issuing processing services to issuers of credit and debet cards on the Icelandic market. Borgun is also known for innovative solutions when it comes to servicing merchants that accept MasterCard, Maestro, VISA, VISA Electron, Union Pay, JCB, Diners Club, Discover and American Express cards.