Matera Brings Instant Payments, QR Code Payment Solutions to US Market

Matera, maker of world-class instant payment and QR code technology for financial institutions, announced its move into the U.S. “with new headquarters in San Francisco.”

The expansion comes amid adoption of Pix, the instant payment system “implemented by the Central Bank of Brazil in 2020 and used by 70% of Brazilians.” Matera provides instant payment software “for banks leveraging Pix in addition to core banking technology.”

Matera currently “processes nearly 3 billion Pix instant payments a year, 20% by QR codes, and provides core banking services to more than 250 global banks, credit unions and digital banks, including two of the top three banks in the world and one-third of all banks in Brazil.”

Across these financial institutions, Matera reportedly “serves over 55 million accounts. Matera’s jump into the U.S. market will enable it to empower far more financial institutions to extend their payments capabilities.”

Matera’s instant payments technology “has been adapted for the U.S. market in support of RTP and the new FedNow instant payments rail launching in mid-2023.”

Additionally, Matera is “introducing one-of-a-kind QR code payments software to U.S. financial institutions.” Its QR code payment software “can be paired with instant payments or used closed-loop.”

Patrick Devlin, President of Matera U.S. and a former PayPal, WorldPay and Visa executive, said:

“Matera has developed payments technology that is two-to-three years ahead of anything the U.S. market has seen to date, and we’ve proven its value through our deployment in Brazil. There is tremendous opportunity here in the U.S., as more than 10,000 financial institutions require better digital payments options. We are here to help by delivering world-class customer experiences through seamless payments solutions.”

Matera says that it “offers scalable and easy-to-integrate instant payments with seamless connectivity to core banking and digital channels.”

Its instant payments solution “enables financial institutions to remain competitive, especially with Digital Wallets, create new revenue streams, strengthen relationships with merchants and businesses, and retain and attract new customers.”

Carlos Netto, Co-founder and CEO of Matera, remarked:

“I’m thrilled to be adapting our sophisticated instant payments solution to the U.S. for FedNow and RTP so banks and credit unions can capitalize on this ground-breaking new payment capability. We’ve seen firsthand how transformative instant payments can be. Those unprepared to offer instant payments when Pix launched lost out on commercial opportunities. Yet, FIs that were early innovators enjoyed new sources of revenue as a result. We believe the same will be true in the U.S.”

For more details, check here.

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