“Can an Icelandic-native all-in-one bookkeeping, invoicing, and payroll SaaS own the Icelandic SMB back-office under the Visma umbrella?”
Payday ehf is an Icelandic SMB finance platform (invoicing, payroll, bookkeeping) that is now part of the Nordic Visma Group. It serves roughly 8,900 Icelandic businesses as a localized all-in-one bookkeeping + payroll + invoicing SaaS, with Icelandic-specific features like index-linked recurring invoices (vísitölutengdir áskriftarreikningar), automated VAT (VSK) returns, and automated payroll tax filings.
Payday's payroll is powered by In-house payroll engine (self-operated).
The Embedded Finance Index 2026 maps 2 layers in Payday's stack: Payroll (In-house payroll engine (self-operated)); Accounts Receivable (In-house invoicing (self-operated)).
Payday is founded in 2016 and headquartered in Kópavogur, Iceland.
Get a read on where your own stack stands against Payday and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.