The company has also established new headquarters in San Francisco. Photo: Business Wire

Matera, a Brazil-based provider of instant payment and QR code technology for financial institutions, has expanded its international footprint by launching operations in the US.

As part of the expansion, the company has established new headquarters in San Francisco.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The expansion is in response to fast implementation of Pix, an instant payment system developed by the Central Bank of Brazil, which is currently being used by 70% of Brazilians.

Matera offers instant payment software for banks using Pix apart from core banking technology.

The company in its press release said that it currently processes around three billion Pix instant payments per year, of which 20% are by QR code.

Furthermore, Matera is offering core banking services to more than 250 global banks, credit unions, and digital banks.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The company added it has altered its instant payments technology for the US market to support RTP and the new FedNow instant payments rail to be launched in mid-2023.

Furthermore, the company plans roll out QR code payments software particularly for financial institutions operating in the US.

The QR code payment software can be paired with instant payments or used closed-loop, the company said.

Matera US president Patrick Devlin said: “Matera has developed payments technology that is two-to-three years ahead of anything the US 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.”