I don’t even understand what you mean by “banks had to talk to each other” and why you are referring to TED in the past tense when it’s still the largest settlement method by BRL amount
Because TED is not the only way to send money now...? It's basically legacy, although yes, still used.
Very rare you'll see Person to person/business using TED. Basically business to person...
And yes, literally banks had to "talk" with each other. Which is why it was paid and slower in first place and didn't worked 24/7.
I suggest you go read the SFN messaging manuals from BCB if you truly want to understand how interbank communication works. It is very well documented.
You clearly don’t know what you are talking about since you are conflating the STR (transfer reserve system) with TED (one of the many settlement methods in STR)
The goal with Pix was not to increase the total amount of value tranfered, but the amount of small micro-transactions, increasing fluidity and bypassing unecessary bureacratic processes.
TED still wins by raw value, but that amount is irrelevant. It is what is left after the small-fry micro-transactions were liberated from complicated, archaic systems. Those small-fry transactions provided a lot of fluidity to the market, which is the realm in which Visa and Mastercard were supposed to act (incresing consumption) but were unable to compete due to their own legacy devices. They really need to catch up with the competition: those systems and their culture are ancient relics.
And yes, literally banks had to "talk" with each other. Which is why it was paid and slower in first place and didn't worked 24/7.