ACH Growth Hits 12-Year High
ACH growth is at a 12-year high after huge improvements in 2019. The ACH Network saw nearly 25 billion payments last year, an almost 8% jump from 2018. The total value of the payments was nearly $56 trillion, which is an increase of nearly 9% from the previous year.
Business-to-business (B2B) transactions also continued to climb in 2019. B2B payments increased 12% to four billion payments. "These outstanding results continue to show that the modern ACH Network plays a vital role in the nation's payments system," said NACHA President and CEO Jane Larimer in a release.
Same Day ACH showed improvement as well, hitting a yearly record of more than 250 million payments valued at $247 billion. "Same Day ACH is an important part of the modern ACH Network, and it is being embraced as the demand grows for faster payments," Larimer said.
Same Day ACH B2B payments jumped roughly 50% from 2018.
-Michael Miller, managing editor