The number of ACH payments totaled more than 5.6 billion in the third quarter of 2018, a 6.7 percent increase over Q3 2017, according to NACHA. The ACH Network’s strong performance was driven in large part by online and business-to-business (B2B) payments:
Same day ACH
There were 43.2 million Same Day ACH payments in the third quarter of 2018, an increase of 192 percent compared to the same time period in 2017, when Same Day ACH debits were just being introduced. Same Day ACH credits have been available since September, and increased by 90 percent in the third quarter of 2018.
“The ACH Network is thriving,” said Jane Larimer, chief operating officer of NACHA. “Governments, financial institutions, businesses and consumers are all reaping the benefits the ACH Network provides.”
As the ACH Network’s growth accelerates, NACHA, its members, and the ACH Network operators plan to enhance the Network’s capabilities to meet the needs of businesses and consumers. Over the next two years, Same Day ACH will be expanded, with faster funds availability, a higher dollar limit, and later processing hours.
CTMfile take: Maybe now is the time to push for Same Day ACH to replace checks?
Same Day ACH payments up 140% in US
The volume of Same Day ACH payments more than doubled over the past two months to 10 million in October 2017, compared to a transaction volume of 4.1 million in August
Same Day ACH exceeds expectations in volume, safety, adoption
Same Day ACH, the US's faster payments initiative, is meeting expectations in terms of volume, security and adoption by businesses of all sizes, according to a survey by NACHA
Checks are disappearing in the USA: SunGard’s AvantGard PayNetExchange had growth of 384% in Virtual
SunGard announced today that its virtual card volume through its integrated B2B payments solution AvantGard PayNetExchange in 2012 increased by 384%. AvantGard PayNetExchange allows companies to operate smarter and