Matera and Solana Foundation Debut X9.150 QR Standard for Interoperable U.S. Payments

A consortium including Matera, Payfinia, and the Solana Foundation has demonstrated the first live use of X9.150, a new U.S. standard for QR code payments. For fintech professionals, this represents a significant move toward interoperability, allowing a single QR code to facilitate payments across FedNow, RTP, and stablecoins while automating invoice reconciliation.

What was announced

At Money20/20 USA, the participants showcased how the X9.150 standard—approved in July 2026 by the American National Standards Institute’s Accredited Standards Committee X9—functions in a real-world environment. The demonstration featured a small business issuing an invoice containing a single X9.150-compliant QR code. This code allows customers to settle the debt using their preferred method, whether through a traditional banking app via the FedNow Service or RTP network, or using USDC on the Solana network via the Squads Altitude wallet.

The platform is designed to support a wide array of payment rails, including ACH credit transfers, the Zelle Network, and emerging digital payment methods. During the demonstration, the workflow managed the entire data exchange and payment routing process. When a payment is confirmed, funds arrive within seconds, and the business’s ERP system automatically marks the invoice as paid. This architecture aims to eliminate the manual effort typically required to match payments to invoices and the delays associated with traditional account-to-account transfers. While the demonstration is not a formal product launch, it serves as an invitation for banks, credit unions, and merchants to adopt the open-source reference software provided by Matera to build a more unified payment ecosystem.

"Solana’s job is to make the stablecoin option as easy as the bank option: a customer scans, pays in USDC, and the invoice is marked paid seconds later. Open standards like this are how stablecoins become part of everyday commerce."

Jamal Raees, GM, Payments, Solana Foundation

The companies involved

Matera is a payments technology provider with deep roots in the Brazilian market, where it played a central role in developing the Pix ecosystem. The company has since expanded its focus to North America, leveraging its experience with high-volume, instant payment systems to bridge the gap between traditional and digital assets. The Solana Foundation supports the Solana network, a high-performance blockchain designed for decentralized applications and settlement. The foundation has recently focused on bringing stablecoins like USDC into everyday commerce through high-speed settlement rails.

Payfinia, a subsidiary of Tyfone, provides embedded payment services and instant payment support specifically tailored for community financial institutions. The company currently serves nearly 30 such institutions, providing the infrastructure necessary for smaller banks and credit unions to compete with larger entities in the instant payments space. By developing an X9.150-compliant workflow, Payfinia enables these institutions to offer interoperable QR payments through their existing mobile applications, as evidenced by their successful testing with the Star One Credit Union mobile app.

What FF News has reported before

FF News has closely followed Matera’s efforts to modernize U.S. payment infrastructure. In October 2026, we covered the launch of Matera Workspace Launches to Bridge Fiat and Digital Assets Without Core Banking Replacement, which was designed to facilitate digital asset integration. This followed our report on Matera Launches Open Source X9.150 Payment QR Code Implementation to Drive Industry Adoption in August 2026.

We also reported on the Solana Foundation Recruits Binance and Polygon Executives to Drive Global Payments Strategy in September 2026, which included the appointment of Jamal Raees. Additionally, Matera’s broader digital asset strategy was highlighted in August 2026 through the Matera and Utila Partner to Enable Secure Digital Asset Custody for Global Banks announcement.

What this means

The U.S. payment landscape has long suffered from "walled garden" syndrome, where QR codes are often tied to specific apps like Venmo or PayPal. By establishing a formal ANSI standard that includes both traditional rails and stablecoins, the industry is making a coordinated attempt to replicate the success of Brazil’s Pix. This puts significant pressure on traditional card networks, as seamless, instant account-to-account (A2A) payments become more accessible to small businesses. The inclusion of USDC within an official X9 standard is particularly telling; it signals that stablecoins are moving from the periphery of finance into the core of regulated U.S. payment standards, raising questions about how quickly major commercial banks will move to adopt the open-source implementation.