Today, a consortium of banks, fintechs, and payment infrastructure providers including Matera, Payfinia and Solana Foundation held the first live public demonstration of X9.150, a new U.S. standard for QR code payments, at Money20/20 USA. The demo shows how a single QR code on an invoice lets a customer pay over FedNow® Service, the RTP® network, or with USDC on the Solana network, while the business’s invoice records update automatically.
For most U.S. businesses, getting paid is still slow and complicated. Customers enter account and routing numbers, log into payment portals, mail checks, or pay card fees. Each payment network works differently, so businesses often wait days for funds and spend hours matching payments to invoices.
X9.150 is designed to fix that. Approved in July 2026 through the American National Standards Institute’s Accredited Standards Committee X9, it gives banks, payment networks and software providers one common format for QR code payments. The platform enables financial institutions, payment providers and billers to deliver secure, interoperable account-to-account payment experiences across multiple payment networks, including FedNow®, RTP®, ACH credit transfers, the Zelle Network® and emerging digital payment methods such as stablecoins. A business can send one code, and the customer can pay with whatever payment method their bank or wallet supports.
At Money20/20, the companies are showing that process from start to finish. A small business sends an invoice with an X9.150 QR code on it. The customer or business financial platform scans the code with their credit union’s banking app, or with the Squads Altitude wallet to pay in USDC, and confirms the payment. The funds arrive within seconds, and the ERP marks the invoice as paid automatically.
The approach draws on Brazil’s experience with Pix, where one common QR code became the country’s most widely used everyday payment method within a few years. X9.150 applies the same principle in the U.S. while working across multiple payment networks, so businesses and banks don’t have to commit to just one.
“We open-sourced our X9.150 reference software because a standard only one company can build isn’t really a standard,” said Carlos Netto, Co-founder and CEO North America, Matera. “The faster others can adopt it correctly, the faster it reaches businesses and consumers everywhere.”
“X9.150 gives American businesses one QR code that works across payment rails,” said Jamal Raees, GM, Payments, Solana Foundation. “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.”
Demonstration Participants
- Matera, a payments technology provider that helped build Brazil’s Pix ecosystem, released the first open-source X9.150 reference software.
- Payfinia enables embedded payment services and instant payment support for nearly 30 community financial institutions. Payfinia developed an X9.150 compliance QR code workflow that manages all data exchange and payment routing, and a plug-in experience that can work with any digital banking platform. Payfinia has successfully tested the workflow with Star One Credit Union’s mobile application.
- Solana operates the settlement rails, with Squads providing the option to pay in USDC on the Solana network.
The demo is not a product launch. The participants are inviting more banks, credit unions, fintechs and merchants to test and adopt X9.150, since the standard becomes more useful as more businesses and banks accept it.
Organizations interested in piloting X9.150 can contact Eric Valenzuela, eric.valenzuela@matera.com.
About the X9.150 QR Code Consortium
The X9.150 QR Code Consortium is a cross-industry group of financial institutions, payment networks and technology providers working to bring X9.150, the U.S. standard for QR code payments, into everyday use. Participants include Matera, Payfinia, Early Warning Service LLC’s Zelle Network® and Solana Foundation.
View source version on businesswire.com: https://www.businesswire.com/news/home/20261019530143/en/
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