Interest-free installments (MSI)
With interest-free installments (meses sin intereses), your customer pays with a Mexican credit card in fixed monthly installments and you receive the full amount in your usual payout, like any card payment. The bank collects from your customer month by month; you don’t wait for the installments.
How to turn it on
- Open Settings › Payments › Payment methods.
- Turn on Interest-free installments (MSI). You need Cord Payments active, an account in Mexico, and card payments turned on; if you turn cards off, installments stop being offered with them.
What your customer sees
On the quote link, the invoice link, and the portal, when paying by card they see a note that they can pay in installments. Once they enter a card that qualifies, they choose the term before confirming. If the card doesn’t qualify, they pay in a single payment.
For installments to be offered:
- The payment is in MXN.
- The card is a credit card for an individual, issued in Mexico by a participating bank. Cord offers 3, 6, 9, and 12 months; which ones your customer sees depends on their card’s bank.
- The amount meets the term minimum: 300 MXN for 3 months, 600 for 6, 900 for 9, and 1,200 for 12.
Installments are never offered on automatic payments or when your customer saves their card for future payments: the person paying chooses the term at that moment.
What it costs
Your usual card fee, plus a per-term cost plus IVA, deducted from that payment:
| Term | Additional cost |
|---|---|
| 3 months | 5% |
| 6 months | 7.5% |
| 9 months | 10% |
| 12 months | 12.5% |
For example, on a 12,000 MXN payment over 12 months, the additional cost is 1,500 MXN plus 240 MXN of IVA, on top of the card fee. You also see it in Settings › Payments › Fees.
Where you see the term
In the invoice detail, each payment shows how many interest-free installments it was paid in.
Refunds
An installment payment can be refunded in full or in part, like any card payment. The term cost is not returned.
Not the same as an installment plan
Installment plans are proposed by the collections agent on an overdue balance and only exist if your customer accepts them; each installment is a separate charge that reaches you when it’s paid. With interest-free installments you receive everything at once and the bank finances your customer.