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.

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.

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By GlobalData

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.”