Shein Launches Co-Branded Credit Card With Stori

Fast-fashion giant Shein has entered Mexico’s financial services sector through a co-branded credit card developed with fintech firm Stori, marking its first global partnership of this kind and a major strategic move to boost consumer loyalty and digital engagement in Latin America. 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.

According to information published by Stori, the product aims to expand access to credit among first-time users and is not available to customers who already hold a Stori card. The initiative aligns with Mexico’s accelerating digital-payment adoption and expanding credit penetration. 

Nearly half of the population does not have formal access to credit, according to data from Banxico. Stori has become a leading fintech player thanks to its high card-approval rates and focus on reaching underserved consumers. Its partnership with Shein strengthens its reputation in financial inclusion while enabling access to a young, digital-first audience.

For Shein, the initiative is part of a broader strategy to drive repeat purchasing, increase brand loyalty, and deepen engagement with Mexican consumers. Company representatives highlighted to Reuters that the partnership represents Shein’s first co-branded card worldwide, underscoring Mexico’s strategic importance.

The card offers up to 50 days interest-free, along with installment options on select purchases. However, analysts have raised concerns over limited publicly available information regarding interest rates and fees, a point criticized by financial platforms such as Digitt. Despite transparency concerns, the card presents an alternative to traditional banking options by combining fast access, digital integration, and shopping rewards. Industry analysts say the offering could appeal to young consumers who historically struggle to access conventional credit products.

The launch reflects a broader trend in which e-commerce platforms are expanding beyond retail into financial services, offering payment solutions, credit tools, and loyalty programs. As partnerships between retailers and fintechs accelerate, however, questions remain regarding regulation, consumer protection, and long-term adoption. 

Finance, Retail Combined for Greater Penetration

MBN reported that Walmart de México y Centroamérica (Walmex) aims to increase customers’ purchasing power, diversify consumption channels, and expand payment methods by facilitating access to credit, according to Santiago Benvenuto, Head of Financial Solutions for the unit. With 50% of payments in Mexico still made in cash, Benvenuto emphasized the opportunity to drive digital payment adoption and support financial inclusion.

Following the launch of Walmart Invex and Sam’s Club Invex credit cards, in partnership with Invex Banco and Mastercard, Benvenuto stated the new products reinforce Walmex’s value proposition and are generating strong consumer interest. “People who previously shopped with cash will now also be able to use our e-commerce platforms,” he explained.

The credit cards aim to increase purchasing capacity for the more than 6 million daily customers across 3,214 stores, leveraging technology to analyze spending patterns and offer tailored financial solutions.

Despite Mexico’s broad credit card market, banking penetration remains low. Walmex seeks to remove access barriers and help customers transition from cash to digital payments. “Our goal is real integration into customers’ lives, leveraging the trust and proximity Walmart generates for segments currently excluded from the formal financial system,” Benvenuto said, noting that 50% of people over 15 do not have a bank account.

Jean Marc Mercier, Director General, Invex Grupo Financiero, highlighted the importance of financial inclusion, ensuring that customers can obtain a credit card even without a credit history. “All Walmart customers will be able to leave the store with a 100% approved credit card,” he guaranteed.