Overview
- The co‑branded card, which launched on Monday, July 13, is available for digital application through Stori and already shows about 5,000 active plastic cards with a company target of 100,000 issued by year‑end.
- Product terms include no annual fee, Mastercard acceptance for use inside and outside Farmacias Similares, advertised credit lines up to MXN 20,000 and a billing window that can give customers up to about 50 days to pay depending on cycle dates.
- Rewards are conditional and capped: 25% back on the first Farmacias Similares purchase up to MXN 1,000, up to 10% monthly cashback in the pharmacy if the card is used at three other merchants that month (capped at MXN 500), and a 2% return on participating Mundo Simi purchases with monthly limits.
- Approval is subject to Stori’s credit evaluation, the product is aimed at new or thin‑file customers, and both companies plan a measured rollout while considering services such as remittance reception without offering cash payouts in stores.
- The partnership reflects a wider embedded‑finance trend that uses trusted retail footprints to reach people excluded from formal credit; regulators and consumer advocates urge applicants to compare interest rates, the Costo Anual Total and payment terms because cashback does not offset interest on unpaid balances.