Fast-fashion powerhouse Shein is taking its first step into financial services, launching its debut branded credit card in Mexico through a strategic partnership with local fintech company Stori, the companies announced Tuesday.

The new Mastercard offering marks Shein’s first credit card venture worldwide, strategically targeting Mexico’s rapidly expanding e-commerce market, which led global growth last year according to the Mexican Online Sales Association (AMVO). With clothing accounting for over 40% of the country’s online purchases, the timing appears particularly opportune.

The card will feature a rewards program designed to drive Shein’s online sales, offering points for all purchases and double points for transactions on Shein’s platform. This initiative aims to capitalize on the Chinese retailer’s surging popularity in Latin America while simultaneously expanding credit access in the Mexican market, where traditional banking services remain limited for many consumers.

This move comes as Shein, valued at $66 billion in its latest funding round, continues its aggressive expansion in Latin America. The company is currently exploring plans to establish manufacturing facilities in Mexico and strengthen its distribution network in Brazil, while also benefiting from a growing network of small businesses that bulk-purchase and resell Shein products through physical stores.

The partnership represents a significant step in Shein’s strategy to deepen its presence in Mexico’s burgeoning e-commerce landscape while diversifying its services beyond pure retail operations.