Canada vs Argentina · Real-time payment systems compared
| Capability | Interac e-Transfer | SNP |
|---|---|---|
| QR Code Payments | — | ◐ |
| Wallet Support | — | ◐ |
| 24/7 Availability | ✓ | ✓ |
| Cross-Border | — | — |
| ISO 20022 | — | — |
| Request to Pay | ✓ | ✓ |
| Open API | ◐ | ◐ |
| Alias/Proxy | ✓ | ✓ |
Canada's dominant person-to-person and business payment system, used by virtually every Canadian with a bank account. Interac e-Transfer enables instant transfers via email address or phone number across all major Canadian banks and credit unions. Originally a next-day service, it was upgraded to real-time settlement in 2022. Interac processes over 1B transactions per year with CAD 900B+ in value, making it one of the world's highest per-capita instant payment systems. Operated by Interac Corp (jointly owned by Canadian financial institutions), it also supports Interac Debit for point-of-sale and Request Money for invoicing.
Argentina's Sistema Nacional de Pagos enables instant interbank transfers supporting both push (credit) and pull (debit) payments via CBU (bank account), CVU (virtual wallet), or alias (human-readable name). Operated by the BCRA, it connects traditional banks and the rapidly growing fintech/e-wallet ecosystem (Mercado Pago, Ualá, etc.). Transferencias 3.0 extended the system with interoperable QR codes for merchant payments, making it one of Latin America's most feature-rich instant payment platforms.