Brazil’s fintech powerhouse, Matera, is enhancing its instant payment solutions by acquiring local startup Cinnecta. Financial details of the acquisition remain undisclosed.
As a significant player in the Brazilian market with operations extending to the US, Matera plays a crucial role in the Pix instant payment ecosystem, collaborating with various major banks. The company processes over 300 million Pix payments monthly, with 60 million transactions initiated via QR codes.
With the integration of Cinnecta’s artificial intelligence capabilities, Matera aims to create innovative products and services aimed at financial institutions, credit card firms, and consumers. This collaboration intends to enrich clients’ sales strategies by providing intelligent and actionable insights.
Carlos Netto, CEO of Matera, stated, “Matera is leading the way in expanding Pix in Brazil, contributing to the financial ecosystem through innovation and collaboration. Our objective is to empower our clients to significantly enhance the value of Pix transactions by seamlessly integrating our retail banks—managing over 60 million accounts—with various client services.”
He further emphasized, “This integration not only aims to boost transaction volumes but also to promote client loyalty and expand business opportunities around Pix. Backed by Cinnecta’s strategic insights, Matera is well-positioned to pursue this ambitious vision, reinforcing our commitment to fostering growth and excellence in the financial sector.”