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Configure payments

Learn how to connect your bank account and pass the verification process (KYC) to start charging online.

The Onboarding Process

For money to reach your bank directly without Cord holding it, we use Stripe Connect. This means you’ll have your own sub-account for payment processing, tied to your bank account, and configured so that Cord charges zero commission—you only pay standard Stripe processing fees.

Steps to connect your account

  1. Go to Settings > Payments inside the app.
  2. If your status is “new”, you will see a welcome screen.
  3. Click on the Start verification button. This will open a secure embedded Stripe component where you will be asked for information about your company.

What information is required (KYC)?

Stripe is required by law to verify your identity and the legitimacy of your business (KYC - Know Your Customer). You should have ready:

  • Company Tax ID: The legal name and tax ID (RFC) you use for billing.
  • Official ID: Passport or government ID of the legal representative.
  • Bank account (CLABE/IBAN): The account where you want your sales deposited automatically.
  • Articles of Incorporation: In some cases (for companies with high sales volume), Stripe might request the articles of incorporation to verify shareholder structure.

Important note: Cord does not store any of this sensitive information. The entire process takes place within a secure Stripe iframe (<iframe>), and documents go directly to their PCI Level 1 certified financial servers.

Account Statuses

Depending on your progress in onboarding, your payment account will show different statuses in the interface:

  • New: You haven’t started the process yet. No automatic payment methods will be available.
  • Pending: You’ve started the process but Stripe needs to verify your documents or requires additional uploads. In this state, Card and SPEI methods remain locked.
  • Active: You’re all set! Stripe has verified your identity and your bank account is confirmed. You can now charge, and money will flow automatically.

Available Payment Methods

Once your status is Active, you’ll be able to individually toggle the methods you offer on your quotes:

  • Credit and debit card: Processed instantly (Visa, Mastercard, Amex).
  • Automatic SPEI transfer (MX): Generates a unique, temporary CLABE for the current quote. When the client transfers the funds, the system automatically marks the payment as completed and notifies you.
  • Manual transfer (Without Stripe): Displays your traditional bank account details. The client uploads their receipt, and you manually mark the payment as received. This method is available regardless of the status of your Stripe account.