B2B ACH Network Increases in 2018 2Q
The ACH Network continues to grow following another solid performance in the second quarter of 2018. ACH debit and credit transactions increased by 6.2% compared to the second quarter of 2017, according to NACHA—The Electronic Payments Association. That is equivalent to 5.7 billion more transactions.
"The ACH Network provides substantial value to everyone who sends or receives payments, including businesses, consumers, governments and financial institutions," said NACHA Chief Operating Officer Jane Larimer in a release. "Another strong quarterly performance demonstrates how vital the ACH Network is to the U.S. economy."
The network saw more than 3.3 billion ACH debit transactions and nearly 2.4 billion ACH credit transactions this past quarter. Business-to-business (B2B) transactions increased by 8.6% compared to 2Q 2017, reaching 889 million total transactions. This is roughly 40 million more transactions than there were during the first quarter of 2018.
Same Day ACH has also come into its own after credits and debits were both established. Same Day ACH credits began September 2016, while Same Day ACH debits have been available since September 2017. The second quarter of 2018 saw nearly 41 million Same Day transactions, about 29 million more than 2Q 2017.
"As the adoption of Same Day ACH continues to grow, NACHA will seek to continue to expand the capabilities of Same Day ACH and the ACH Network," concluded Larimer.
-Michael Miller, managing editor