What’s new in payments and invoicing
Recent changes to how you collect, invoice, and receive your money in Cord.
Summary
| What’s new | What changes for your business | Guide |
|---|---|---|
| Milestone payment plan | You split a quote into 2 to 24 payments with a date or a condition, collect each one from the same link and, for business clients, add financing interest | Milestone payment plan |
| Discounts and coupons | A discount on the subtotal by percentage or amount, and coupons with a code, validity dates, and a usage cap, on quotes, invoices, and the API | Discounts and coupons |
| Invoice portal | One link per client with all their invoices, their balance per currency, and paying several in a single charge | Invoice portal |
| Automatic payments | Your client saves a method and Cord charges each invoice on its due date, with retries and notices | Automatic payments |
| Bank debit | On invoices in euros (SEPA: Spain, Germany, and France), US dollars (ACH: United States), pounds (Bacs: United Kingdom), or Canadian dollars (pre-authorized debit: Canada), your client pays by debit from their bank account | Bank debit |
| Bank transfer with a reference | In EUR, GBP, or USD, your client pays by transfer to an account of their own with a reference per payment, and Cord reconciles it on its own | Bank transfer with a reference |
| Refunding a grouped charge | When you refund a charge that paid several invoices, Cord splits the refund among them and reopens their balance | Refunds |
| Mexico: PUE or PPD and payment complement | The CFDI picks its payment method from what’s already collected and, if it’s PPD, each payment generates its automatic complement; plus the global invoice and CFDI replacement | Invoicing and CFDI |
| US sales tax by address | The combined rate for each address, with a monthly quota per plan and overage | Subscription |
| Partial invoice payments | Your customer can pay part of the balance, and the next payment is calculated on what remains | Invoices |
| Credit notes | Reduce the amount of an issued invoice without voiding it; in Mexico it is stamped as a related expense CFDI | Invoices |
| Downloads on the invoice link | Your customer downloads the PDF and, in Mexico, the XML from the same page where they pay | Invoices |
| Standard invoices on Free | The Free plan includes 10 standard invoices per month; from Starter they are unlimited | Invoicing by country |
| Subscription prices in euros | In Spain, Germany, and France, self-service plans are purchased at fixed EUR prices | Subscription |
| Mercado Pago | A second online payment rail, with your own account, on quotes and invoices | Mercado Pago |
| Safe switching between bank transfer and card | Switching methods can’t create a duplicate charge when money has already been received or is in progress | Payment methods |
| Payout frequency | You choose how often your money goes out to your bank | Payouts to your bank |
Partial invoice payments
On an invoice link, your customer can pay the full balance or choose Pay another amount and type how much they want to pay. Cord caps that amount at the invoice’s real balance. After a partial payment, the next payment is prepared for the current balance, not the original total, and a repeated notice for the same payment is not added twice.
Credit notes and the invoice balance
From the detail of an issued invoice you can issue a credit note. In Mexico it is stamped as an expense CFDI related to the original invoice’s fiscal folio.
Cord keeps payments, issued credit notes, and confirmed refunds separate, and calculates the balance as: total − issued credits − recorded payments + confirmed refunds, with a minimum of zero. Details and examples are in Create, issue, and collect invoices.
Downloads from the invoice link
The invoice’s public page includes the PDF download and, for invoices stamped in Mexico, the XML. Your customer no longer needs to ask you for them by email.
Standard invoices on the Free plan
The Free plan includes 10 standard invoices per month, separately from quote sends. From Starter they are unlimited. Fiscal issuance (CFDI in Mexico) starts on Starter, with its own monthly allowance.
Prices in euros
In Spain, Germany, and France, the Cord subscription is purchased at fixed prices in euros (EUR) for the self-service plans. If you already have a contract in another currency, Cord keeps it. Developer has no self-service euro price; it is purchased through sales. See Subscription.
Mercado Pago as a second payment rail
You can connect your own Mercado Pago account in Settings › Payments › Payment methods. Your customer sees it on the quote’s payment page and on the invoice link, including partial payments. Refunds you issue from Mercado Pago are reflected in the balance automatically. See Mercado Pago.
Safe switching between bank transfer and card
If your customer starts paying with one method and switches to another (for example, from a SPEI transfer or a bank transfer with a reference to card), Cord first checks the previous attempt. If it has already received money or has a payment in progress, it isn’t replaced and the customer is asked to wait for confirmation. See Payment methods.
Payout frequency
In Settings › Payments › Payouts you choose how often your money goes out from Cord Payments to your bank account: daily, weekly (choosing the day), monthly (from the 1st to the 28th), or manual. If your account’s verification has pending requirements, that same screen tells you payouts are paused.
Refunds with a fee notice
When you refund a payment from Revenue › Payments, or an invoice’s online payment from its detail page, the dialog asks you to confirm that you understand Cord’s platform fee is not refunded automatically. See Refunds.
See the roadmap for what’s coming next.