MEXICO CITY — A well-known Mexican pharmacy chain and a fast-growing financial technology company have teamed up to roll out a new co-branded credit card, with the goal of reaching the large portion of Mexico’s population that currently has no access to traditional banking or credit services.
Farmacias Similares and fintech firm Stori officially unveiled the card on Monday. Rather than a plain design, the card features the pharmacy’s famous mascot — Dr. Simi, a mustachioed figure dressed in a white lab coat who has become a widely recognized cultural symbol throughout Mexico.
The new card comes with several perks for shoppers. Cardholders will receive a 25% discount on their very first purchase, along with the opportunity to earn up to a 10% monthly discount on purchases made at the pharmacy’s physical locations and online store, provided the card was used somewhere else during the previous month.
Stori co-founder and chief governance officer Marlene Garayzar explained the motivation behind the launch: “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 has built its reputation around affordable generic medications and the Dr. Simi brand, growing into one of Mexico’s most recognizable retail names with more than 11,000 store locations across the country.
Stori, which was founded in 2018, has expanded rapidly by offering credit to consumers who have little or no formal credit history. The company currently serves 5 million customers. In 2024, Stori also partnered with Chinese fast-fashion retailer Shein to launch what was Shein’s first co-branded credit card anywhere in the world, a move designed to help both companies grow their presence in the Mexican market.
