Farmacias Similares and Stori Launch Co-Branded Card

Farmacias Similares has partnered with fintech unicorn Stori to launch a co-branded credit card backed by Mastercard, targeting first-time banking consumers in Mexico. This cross-industry alliance enables the retail pharmacy chain to capture digital transactional data while providing Stori with a massive physical distribution network to scale its underwriting base. The integration reflects a broader B2B trend where non-financial retail giants deploy embedded financial solutions to accelerate customer lifetime value and lower entry-level cash dependencies.

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Farmacias Similares is joining Mexican fintech Stori to launch a specialized credit card backed by Mastercard. The new financial product targets underserved consumers seeking first-time access to the formal credit system by eliminating annual fees, reducing underwriting friction, and providing tailored retail incentives across the country.

This strategic rollout addresses deep structural gaps in the domestic market, where low credit penetration limits long-term consumer purchasing capacity and dampens retail growth. According to Marlene Garayzar, Chief Growth Officer and Co-founder of Stori, building sustainable financial inclusion requires cultivating consumer trust and expanding access to flexible instruments for the millions of Mexicans historically excluded by traditional banking institutions.

Under the agreed framework, the card will operate as a standard international instrument accepted across the global Mastercard network in both physical and digital formats. Approved applicants receive a revolving credit line scaling up to MX$20,000 (US$1,150) and an interest-free payment window extending up to 50 days, depending on the specific billing cycle. 

The card features an integrated cash-back mechanism designed to incentivize transactional loyalty within the pharmaceutical ecosystem. This structure includes an initial 25% cash-back incentive on the first purchase up to a maximum threshold of MX$1,000 (US$57), alongside a permanent 2% return on subsequent transactions executed inside the establishment's retail footprint, capped at 500 pesos monthly. Furthermore, cardholders can unlock an additional monthly 10% cash-back bonus on pharmaceutical purchases by completing a minimum of three external transactions at alternative commercial establishments during the same billing period.

The digital onboarding process is conducted exclusively through Stori’s proprietary technology platform, which carries out the compliance and risk assessment. Eligibility criteria mandate that applicants must be of legal age, provide a valid official identification document, submit a recent proof of address, and maintain an active email account and telephone number. The compliance architecture also requires biometric identity validation using natural-light photography to mitigate fraud risks during the digital application cycle. To optimize the strategic expansion and focus on new user acquisition, the credit product is reserved exclusively for first-time customers, rendering existing holders of alternative card lines like Stori Green or Stori Black ineligible for this edition.

Stori previously utilized this co-branded credit framework to launch a card with global e-commerce giant Shein, aiming to tap into a digital-first audience while accelerating digital-payment adoption. The Shein-Stori card offers benefits targeted to frequent online shoppers, including double rewards points on purchases made through Shein’s platform and a 250-point bonus upon activation. The card carries no annual fee and offers a credit limit based on the applicant’s financial profile.