Automatic transfer reconciliation on the invoice
In Mexico many companies pay their suppliers by bank transfer, not by card. Until now an invoice transfer was matched by hand: the customer sent a receipt and someone looked for the deposit in the bank. With SPEI on the invoice link, Cord reconciles it on its own.
What's included
- One CLABE per invoice: each invoice has its own and keeps it on every visit and every partial payment. Money sent to that CLABE can only pay that invoice, so reconciliation has nothing to mix up.
- Complete instructions: amount, CLABE, bank, beneficiary and reference, with buttons to copy and print.
- Payment recorded on arrival: the payment enters the invoice history, the balance is recalculated, the invoice becomes paid when it reaches zero and your integrations are notified. The same payment is never recorded twice.
- Payment complement in Mexico: a PPD invoice paid by SPEI gets its complement with payment form 03, transfer.
- Incomplete or excess transfers, in plain sight: what isn't a payment yet doesn't touch the balance. The invoice history says how much arrived and how much is missing, or how much stayed in the customer's favor.
- The same SPEI fee as on the quote.
- Refund to your customer's account: the payment is refunded from the invoice detail, fully or partially. Your customer gets an email to provide their bank account, so the invoice needs their email; until they do, the refund waits, and if they don't respond within 45 days it isn't completed.
Why it is in beta
The code and its tests are complete, and the notifications for incomplete transfers and customer balance already arrive from the payments platform. What remains is completing the end-to-end test in test mode with a Mexican account. Until then the documentation marks it as a new feature.
Outside Mexico
SPEI only settles MXN. In Spain, Germany, France, the United Kingdom and the United States, automatic transfer reconciliation is the bank transfer with a reference in EUR, GBP and USD, also in beta.
How it works
The business turns on SPEI in Settings › Payments › Payment methods.
The customer chooses SPEI transfer on the invoice link and transfers to that invoice's CLABE.
When the full amount arrives, Cord records the payment, recalculates the balance and, on a PPD CFDI, issues the payment complement.
Availability and scope
MXN invoices from businesses in Mexico with Cord Payments active and SPEI turned on, on the invoice link.
Clear limits
Not offered in the customer portal or automatic collection: there each invoice is paid from its own link. An incomplete transfer isn't recorded until the rest arrives, and any excess stays in the customer's favor without being charged.