Mall Pay to begin issuing credit cards with CSOB

The Mall Group, which operates one of the Czech Republic's largest online stores mall.cz, has received a license to issue credit cards together with the CSOB bank. Its plan is to offer the credit cards to premium accounts through its payment portal Mall Pay. Much like Amazon's Prime program, the purpose of the new fintech product is to reward shoppers who use the site often. Mall Pay is already offering payment options such as BNPL payments (buy now, pay later), which is among the fastest growing types of payment in Central Europe. It's building up a growing portfolio of online shops, such as Vivantis, CZC.cz, Bezrealitky.cz and LeoExpress.cz that use it to make payments more convenient for customers.