Pomelo and Stori: Successful card migration and regional expansion, an alliance that drives growth

Stori, the Mexican unicorn tech company dedicated to offering financial products and services to simplify users' lives, migrated its card portfolio to our state-of-the-art issuing and processing solution. And it also expanded its presence to Colombia with us!

This alliance has great successes to share: after working together in close synergy for more than 2 years, Stori has already reached 2.8 million cards powered by Pomelo issued in Mexico! This milestone reinforces the position of both companies as leaders in the digital transformation of financial services in Latin America.

Innovative and accessible credit solutions: what Stori does

Stori is a Mexican company valued at over US$1000 million with the mission to democratize access to financial products and services for people whom the traditional financial system has repeatedly and at different stages told no.

Its solution consists of savings accounts and credit cards, accessible through a mobile application with a seamless and straightforward experience. The differentiation in Stori’s proposal lies in its advanced credit risk assessment model that uses sophisticated algorithms, Machine Learning, and Artificial Intelligence, complemented by gamification strategies. This system promotes financial education for its users and encourages them to improve their credit history interactively. By combining our strengths, both companies can significantly contribute to financial inclusion in Mexico, granting more people access to banking services and financial tools that can enhance their quality of life, along with optimization in processes, which can result in greater operational efficiency and potentially lower costs for end users.

Raymundo Guerrero, Country Manager of Pomelo in Mexico.

With the Stori Card powered by Pomelo, users will be able to:

• Build and improve their credit history.
• Access exclusive discounts and promotions.
• Conduct secure transactions and protected purchases.
• Pay all your services and daily expenses.

Stori's commitment is to provide its customers with financial freedom and peace of mind, as well as the confidence to make the most of their money.

What was Stori looking for?

Stori needed to quickly improve the scalability, availability, and flexibility of its processing technology. Therefore, it began the search for a technology partner that:

1. Could migrate its Stori Cards to its cloud native payment processing infrastructure without compromising customer experience.
2. Has state-of-the-art infrastructure for issuing and processing cards ready to support large volumes of transactions throughout Latin America.
3. Allows regional scaling with a single integration and has the necessary licenses for a quick time to market. In this case, to start its expansion to Colombia.
4. Provides flexible solutions and functionalities that adapt to the specific needs of its business.

Why did Stori migrate to Pomelo?

To take its card solution to the next level, Stori found in Pomelo the partner with the speed, expertise, and modern payment processing infrastructure it was looking for. The speed of our solution was highly valued, as it allowed them better time-to-market and a low operational load to position themselves in the market.

Considering its 2.8 million active users in Mexico, our processing technology is ideal for Stori, as it is designed to support large transaction volumes throughout the region: we have a processing capacity of more than 55 million transactions per day with an uptime of 99.995%.

The advantages of our flexible and one-stop shop solution also had a great impact on Stori, as we developed functionalities tailored to their business and needs, such as:

• ISO Message: we made a specific development to send Stori all the fields of the transaction authorization message that we receive from Mastercard. With this information, Stori will be able to make informed decisions about its operations.
• NIP selection and change with an adhoc electrical profile: our offline PIN validation functionality is standardized with 3 usage attempts, but we make two possible profiles available for Stori to parameterize the number of attempts that can be made for cards powered by Pomelo Mexico.
• Dynamic CVV: for their virtual cards, the functionality has been enabled for the CVV to renew every 2 minutes. With this security feature, Stori customers can operate more confidently with their cards against potential fraud. Additionally, we are working to give Stori the autonomy to configure the code renewal time as needed.
• Chargeback Optimization: we provide them with a functionality to create chargebacks via API. This involved a complex integration between Pomelo and Mastercard to send them the chargebacks via ISO messaging.

Additionally, our flexible solutions supported Stori in creating financial products tailored to the specific needs and characteristics of the Mexican market, such as their new credit card, Stori Black, which serves those who have not received a premium offer from traditional banks and comes with exclusive benefits.

Finally, Stori has expanded its presence to Colombia in partnership with us, marking a significant milestone that highlights a regional alliance of two companies in the midst of Latin American expansion! Our regional technology has helped them scale to more countries with a single integration, without needing to contact more providers or process new licenses.

Everything we achieved together

This alliance represents a significant step in the mission of both companies to expand access to inclusive and high-quality financial services in Mexico and the region. We reached a milestone that supports the great processing capacity of our infrastructure, which allows us to support large companies, such as banks and unicorns in the region:

We reached more than 2.8 million cards issued in Mexico

"Reaching the issuance of more than 2.8 million cards in Mexico not only represents a significant number but also reflects our commitment to offering accessible and personalized financial services to millions of Mexicans with the objective of including them in the financial system in a swift, transparent, and secure manner. We have the vision of serving more than 100 million Latin Americans and providing them with efficient financial products. Working with Pomelo has been key, and we are excited about what the future holds as we continue to scale our impact in the region" Marlene Garayzar, Chief Growth Officer and Co-founder of Stori.

"The success of this collaboration was based on our ability to offer a flexible and secure platform that adapts to the specific needs of Stori, allowing the unicorn to accelerate its growth and reach new levels of operational efficiency. Cutting-edge technology and our focus on rapid time to market position us as the best choice for companies looking to stay at the forefront. At Pomelo, we are committed to transforming the financial ecosystem in Latin America. Achieving this milestone is a testament to the power of technology and innovation to democratize access to financial services. This collaboration motivates us to continue developing solutions that enable more companies like Stori to expand their offerings and reach new markets efficiently and securely in record time." Raymundo Guerrero, Country Manager of Pomelo in Mexico.

And now, we continue to grow in Colombia.