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Matera's "Pix by the Numbers" Report Highlights New Milestone of an Estimated 5 Billion Pix Transactions per Month

Pix is setting the standard for payments modernization

Matera, maker of world-class instant payments, QR code and digital ledger technology, today released its quarterly report on the adoption of Brazil’s highly successful Pix instant payments scheme. The latest Pix by the Numbers report covers data through Q1 2024 and shows that the number of Pix transactions is 30% more than credit and debit combined.

“The Central Bank of Brazil was laser focused on user experience when launching Pix. They provided a template for banks on how to offer Pix in their mobile apps, they mandated a QR code standard, and set up a centralized directory to make Pix easy to use. It’s one thing to build faster payment rails, but proving use cases along with the rails was a real game changer in fueling adoption,” said Carlos Netto, CEO of Matera.

The Latest Data

Matera reviewed data from the Central Bank of Brazil and noted several key insights. These include:

  • 41% Pix transactions initiated by QR Code: In terms of volume, approximately 2 Billion Pix transactions per month start by someone scanning a QR code from their mobile device.
  • Growth in business-to-business Pix payments are now outpacing P2P: The value of B2B transactions in March 2024 is up 57% from March 2023. In late 2023, a new infrastructure was launched to foster the growth of B2B, so this trend should continue in 2024.
  • Pix transactions continue to surge past credit and debit: The number of Pix transactions is now 30% more than credit and debit combined.

What It Means for the U.S.

While nearly 90% of Brazilians use Pix to pay each other, the billers and merchants drove the adoption of Pix for in-store and online purchases. Pix costs considerably less to process than credit card transactions, so businesses could lower their payment acceptance costs by encouraging consumers to pay by Pix.

Finding the right incentive took time. Some were able to convert consumers to Pix using discounts and others by rewarding them with extra loyalty points.

The QR Code standard established by the Central Bank of Brazil created a network effect so that every bank or merchant mobile app with a QR code reader could be used to make a payment at any store.

Today, in Brazil, for example, consumers can pay for Shell Gas using a competitor’s mobile app.

As U.S. banks continue to roll out RTP and FedNow send and receive capability, the clear winner with instant payments can be the merchants and billers who are always trying to lower payment acceptance costs while providing a great customer experience.

As illustrated in Brazil with Pix, QR codes can play a key role in providing that “last mile” experience. They enable consumers to pay billers and merchants instantly from their bank account without having to share financial account details.

To read the latest Pix by the Numbers report, please click here. For more information on Matera, visit

About Matera

Matera’s Core banking and Pix instant payments solutions are used by two out of the top three global banks, three of the top 10 U.S. banks, and one-third of all banks in Brazil. Over 400 million Pix instant payments are processed per month using Matera’s solution, and about 40% of those are initiated by QR codes. Matera is also known for collaborating to launch innovative fintech applications that generate new revenue streams for its clients. With operations in both Brazil and the U.S., Matera has nearly 1,000 employees worldwide.

It’s one thing to build faster payment rails, but proving use cases along with the rails was a real game changer in fueling Pix adoption. —Carlos Netto, CEO of Matera


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