Mexican pharmacy chain Farmacias Similares and fintech firm Stori have launched a co-branded credit card, targeting millions of people in Mexico who lack access to the formal financial system.
Card Details
Cardholders will receive a 25% discount on their first purchase and up to 10% monthly discount on purchases at the pharmacy’s physical and online store if the card was used elsewhere during the prior month.
Marlene Garayzar, co-founder and chief governance officer of Stori, stated, “We want to tear down the barriers that separate Mexicans from credit and demonstrate that money can also be on the side of the most important thing we have, which is health.”
Farmacias Similares, known for low-cost generic medicines and its Dr. Simi mascot, operates over 11,000 stores in Mexico. Stori, founded in 2018, has grown rapidly by offering credit products to people with limited or no formal credit history, currently serving 5 million customers.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
