Nacha Reports 22.3% Volume Gains in ’23 for Same Day ACH; B2B Payments Up 10.8%

Same Day ACH and B2B payments on the ACH Network each saw double-digit growth in volume in 2023.

These segments made these gains during a year in which the ACH Network overall saw payment volume rise 4.8% compared to 2022, according to a Wednesday (Feb. 14) press release from Nacha, which governs the ACH Network. In addition, payment value grew 4.4%.

The ACH Network handled 31.5 billion payments valued at $80.1 trillion in 2023, according to the release. It also added more than $1 trillion in value for the 11th consecutive year.

Same Day ACH gains of 22.3% in volume and 41.2% in value, reaching 853.4 million payments worth $2.4 trillion, the release said. Since its launch in September 2016, Same Day ACH has handled more than 3 billion payments worth $6 trillion.

“Same Day ACH is helping meet the nation’s faster payments needs, with uses from payroll to insurance claims, account transfers and more, a $1 million per payment limit and three daily settlements,” Nacha President and CEO Jane Larimer said in the release.

B2B payments recorded a 10.8% increase in volume during 2023, with 6.6 billion payments, per the release. Nacha attributed this growth to businesses using fewer checks.

Other volume results for 2023 reported by Nacha include healthcare claim payments to medical and dental providers, which rose 7.7% to 488 million; consumer internet-related payments, which grew 5.7% to 9.9 billion; and Direct Deposits, which increased 3.3% to 8.3 billion.

The rise in volume of consumer internet-related payments was primarily driven by bill payment and account transfer use cases, Nacha said in the release.

“In 2024, the ACH Network’s focus will include ways to continue growing Same Day ACH,” Larimer said in the release. “We look forward to a bright future in which the ACH Network continues to be the backbone of the nation’s electronic payment system.”

Newer payment rails such as Same Day ACH, real-time payments and the FedNow® Service within the United States make up a critical space to watch within B2B payments, Eric Foust, vice president of banking partnerships North America at Trustly, told PYMNTS in an interview posted in November.

“We have these faster payment rails, and there’s been a lot of analysis happening over the last several years, specifically with [real-time payments], on what the impact that they can have is,” Foust said.