ACH Network Starts 2019 with Bang
The ACH Network is off to a strong start in 2019. The number of payments on the platform increased 5.8% in the first quarter compared to the previous year, states Nacha. The daily volume of payments also increased 7.5%.
"The first quarter results show that the ACH Network is poised for another year of sustained growth," said Nacha Chief Operating Officer Jane Larimer, who is set to become the next president and CEO of the organization, in a release. "With additional enhancements to Same Day ACH coming later this year and into next year, the ACH Network will continue to meet the needs of the nation's consumers, businesses and governments for fast and efficient payments well into the future."
Business-to-business (B2B) volume increased 9.3% compared to the first quarter of 2018, which is a jump of 927 million transactions. Overall, the ACH volume for the first three months of 2019 was at 6 billion. Same Day ACH rose 24% to nearly 53 million transactions.
This hot start to 2019 builds on a trend established in 2018. B2B payments were up more than 9% to 3.6 billion transactions valued at almost $35 trillion last year.
-Michael Miller, managing editor