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Canada already has Interac e-transfer for p2p which is largely free (banks are allowed to charge, but in practice they don't charge consumers).

E-transfer was launched 17 years before Pix so it runs on email addresses as an identifier. In my experience most people use e-transfer more often than cash for person to person and many small businesses like farm stands, etc.

by pkd2 hours ago|

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Interac is not settled realtime - it uses the same infrastructure that was built 50 years ago but has a more modern interface. UPI, Pix and now RTR are new settlement systems that are meant to be realtime from the get-go.

by carlosjobim4 hours ago|

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Nothing is free, not even Pix. It had costs for development and has costs for running it. If it's free for the end user, then somebody else is paying.

As a physical person, you can receive 30 Pix payments per month without having to pay a fee, but send as many as you please.

A business however can be obliged to pay fees for receiving Pix payments from physical persons (ie customers), and when using the more advanced Pix features.

Banks very likely choose to not put any fees on Pix payments for their business clients for now, since it's beneficial to keep their money flowing in. But that's not different than European SEPA payments or American ACH payments being "free" for businesses.