Matera, a Brazilian startup, has acquired out Cinnecta, a local startup that specializes in instant payments using artificial intelligence.
The deal’s financial details weren’t made public. With operations in the US and as a significant fintech player in the Brazilian market, Matera has integrated itself significantly into the country’s Pix instant payments ecosystem by collaborating with a number of significant banks.
Using Matera’s technology, more than 300 million Pix payments are processed each month, 60 million of which are started by QR codes. The business can now use Cinnecta’s AI capabilities to create goods and services specifically for banks, credit card companies, and customers. The collaboration aims to increase clients’ sales capacities by providing insightful, useful insights.
Read More: Brazil’s Matera buy Cinnecta to bring AI to instant payments
