Stori Earns the 'Made in Mexico' Seal and Launches Card in Collaboration with State of Mexico
Stori, the second largest Sofipo in terms of customers, has been awarded the " Made in Mexico " seal by the Ministry of Economy. Additionally, it has formalized an agreement with the government of the State of Mexico to offer residents benefits when using its credit card for public transportation. This makes it the first financial entity in the country to receive this recognition for its products.
“For Stori, it's a privilege to be part of this exclusive group of companies that stand out in the market with the seal on their products,” commented Marlene Garayzar, co-founder of Stori and director of the Mexican Association of Sofipos (AMS), in an interview. The executive emphasized that this recognition, awarded by the Ministry of Economy, led by Marcelo Ebrard, is due to the company's focus on developing products that address the specific needs of Mexicans.
... and Agreement with the State Government Along with the "Made in Mexico" seal, Stori has signed an agreement that will benefit over 163 million users who travel using public transportation options in the Mexico City metropolitan area. They will be able to obtain a credit card and pay for their trips on Mexibús, Mexicable, and the Suburban Train. Each time users pay for six rides using the Movimex x Stori card, they will receive one free trip. This card will have a credit limit of 20,000 pesos, as it corresponds to a Level 1 account, which is considered the most basic and easy to open. “It’s an account with a simplified activation process, and since we won’t conduct a life verification, we decided to make the opening experience very straightforward, being a Level 1 account,” she emphasized. To apply for it, interested individuals only need their INE (National Electoral Identification), and it is estimated that it will have a 99% approval rate. This card will be available only to new Stori customers, and it is anticipated that as the year progresses, existing customers will gain access to different types of credit cards. Stori has also launched other cards in collaboration with Shein, the Atlas club, and Santos, as well as its black card, designed for customers with a solid credit history. By the end of 2024, Stori had 3.7 million customers and assets valued at 11.65 billion pesos, according to data from the National Banking and Securities Commission (CNBV).This move by Stori demonstrates a strategy aligned not only with the market but also with the needs of users. By offering easier access to credit and rewards for its use, the company not only strengthens its customer base but also contributes to greater financial inclusion, which is essential for sustained economic growth in the country. With the increasing drive toward accessible financial solutions, companies like Stori appear to be well-positioned to expand in a competitive environment.
