NACHA—The Electronic Payments Association - announced that ACH Network’s growth rate for 2017 was the highest since 2008. In 2017, nine billion ACH credit transactions had a total value of more than $30 trillion and the more than 12 billion debit transactions had a total value of more than $16 trillion, as the infographic below shows:
In addition to ACH Network transactions, which are processed by ACH Network operators, financial institutions surveyed by NACHA reported 4.2 billion “on-us” ACH transactions.
Same-day transaction via the NACHA network grew 478% to 75million. Small numbers but growing very rapidly.
CTMfile take: Death of the check in the USA is still a long way off.
NACHA and IFX Forum merge to accelerate API standards
IFX Forum has been merged as an independent operating entity under NACHA in order to further the development of standardised APIs and other standards for the global financial services industry
NACHA goes live with third-party sender registration rules
A regulation requiring the registration of third-party senders – intermediaries that send payments through their own bank on behalf of a client – came into effect in the US at the end of last week
NACHA reveals same-day ACH payments will be available in USA by Sept 2016
Survey shows that payroll and B2B services will be the top offerings initially and also that most banks will offer the same-day services to all clients