MEXICO CITY, Oct 22 (Reuters) - Chinese fast-fashion

giant Shein is launching its first branded credit card worldwide

through a partnership with Mexican fintech Stori, the firms said

on Tuesday, touting synergies that should help both expand in

Latin America's second-largest economy.

The push will simultaneously aim to draw more Mexicans to

the credit market, where they lag in access, as well as luring

shoppers to the low-cost, quick-turnaround retailer's website.

Throughout Latin America, Shein has exploded in popularity

in recent years, as it weighs plans to build a plant in Mexico

and build out a distribution network in prime market Brazil.

The region has also seen a boom in small businesses which

buy Shein clothing in bulk and re-sell it in physical

storefronts.

Shein - valued at $66 billion in a fundraising round last

year - has disrupted the fast-fashion industry with its low-cost

model and rapid growth.

Mexico's e-commerce market was the fastest growing in the

world last year, according to a study by the Mexican Online

Sales Association (AMVO), with just over 40% of all online

purchases being clothing.

The Shein credit card, a Mastercard ( MA ), will offer points to

use on the retailer's website with every purchase. Clothing

purchases on Shein's website will earn double points, the firms

said in a statement.

Stori, a fintech offering services such as savings accounts

that provide 15% yields and credit cards with near-total

approval rates, has already scooped up 3 million clients in

Mexico in the last four years.

The Shein card will only be available to new Stori clients

and not existing ones, according to Stori's website.