The expansion comes amid tremendous 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 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.

Market Drivers
Matera’s proven 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.

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

Instant Payments, Instant Success
Matera 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.

“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,” noted Carlos Netto, Co-founder and CEO of Matera. “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.”

Introducing QR Codes
In addition to instant payments, Matera is unveiling the future of payments with QR code payments to the U.S. market. Imagine a shopper opening his or her banking app, scanning a code and payment is complete. Matera makes that possible today, handling everything on the back end. And because the user has already been authenticated by their own bank, it is safer and more secure than a credit or debit card.

It is one thing for a bank to process a single QR code payment, but quite another to process thousands at the same time– and with the speed modern commerce demands. E-commerce merchants have found that if it takes more than a couple seconds to generate a QR code, as it could for banks trying to generate thousands of codes at once, sales might be impacted by up to 10%. Ultimately, speed and scale matter, which is where Matera stands alone. Matera’s platform, coupled with its Digital Twin software, were designed to handle high volumes at rapid speed with 24x7 real-time processing. Its technology has been heavily tested through deployment in Brazil. It can even do large batches of codes for a single customer. For example, a utility company might need to bill several consumers at once and want to use a QR code. Matera can generate that batch seamlessly.

“QR codes take instant payments to another level,” added Devlin. “Matera has built and thoroughly vetted this technology in other markets. QR code payments are a game changer for businesses looking to reduce their payment processing costs and get their money faster. They also provide a streamlined, mobile payment experience to consumers.”