Mexican fintech company Stori has officially launched Stori Tap, a new feature designed to transform smartphones into point-of-sale terminals. This innovative solution enables micro and small businesses to accept contactless card payments without needing additional hardware. The move aims to accelerate financial inclusion for merchants who have traditionally relied on cash due to the high cost of conventional payment systems.
A Strategic Launch to Empower Entrepreneurs
The announcement was strategically made at the "El poder de ser mujer" forum in Cancún, an event focused on female leadership and innovation. Organized by the Secretariat of Women (SEMUJERES) and led by Governor Mara Lezama Espinosa, the venue underscored the product's focus on empowering women. The forum brought together hundreds of entrepreneurs, students, and community leaders to discuss financial inclusion and technology.
This launch is part of a broader collaboration with the state government through the "Mujer es Emprender" program. The initiative supports 300 women entrepreneurs in Quintana Roo by providing them with financial tools and training to formalize their businesses. Stori Tap is a key component of this partnership, offering a practical solution to enhance their sales capabilities and financial management.
Lowering Barriers with Innovative Technology
Stori Tap leverages Tap to Phone technology, allowing merchants to accept credit and debit card payments simply by having customers tap their card on the business owner's phone. This functionality, available on both iOS and Android devices, completely removes the need to purchase or rent a physical terminal. The system is designed for simplicity, speed, and security, directly addressing common pain points for small vendors.
Merchants receive their funds the following day, deposited directly into their Stori Cuenta+ account. A significant advantage of this system is that the Stori Cuenta+ account generates daily returns on the deposited balance. This feature provides an additional financial benefit, helping business owners manage and grow their capital more effectively and seamlessly.
Marlene Garayzar, co-founder and CGO of Stori, emphasized the company's mission to eliminate entry barriers for entrepreneurs. She stated that many businesses lose sales by not accepting cards, a hurdle Stori Tap aims to overcome. The goal is to empower growth using a tool that merchants already possess in their hands: their mobile phone.
Addressing a Key Market Need
The launch directly confronts a persistent challenge in Mexico's economy, where countless small businesses remain cash-based due to the prohibitive cost of traditional POS systems. While established players like Clip and Mercado Pago exist, Stori aims to further lower the barrier to entry. This positions Stori Tap as a crucial tool for integrating more micro-businesses into the formal financial system.
Governor Mara Lezama Espinosa highlighted the importance of strengthening the economic autonomy of women as a pillar of social development. She noted that providing access to financial tools and technology is fundamental to helping women build sustainable businesses and achieve greater independence. This public-private partnership is seen as a model for driving innovation and opportunity to historically underserved communities.
The introduction of Stori Tap marks a significant step forward in democratizing digital payments for Mexico's small business sector. By combining accessible technology with a strategic focus on female entrepreneurs, Stori is not just launching a new product but also fostering economic empowerment. This initiative has the potential to significantly accelerate the transition from cash to digital, creating new opportunities for growth and financial stability.