ACH Network Payment Volume Jumps In Q3

NACHA – The Electronic Payments Association – announced Thursday (Nov. 1) that automated clearing house (ACH) payments totaled more than 5.6 billion in the third quarter of 2018, a 6.7 percent increase from the third quarter of last year. In a press release, NACHA said the performance was driven, in part, by business-to-business (B2B) and online payments.

“The ACH network is thriving,” said Jane Larimer, chief operating officer of NACHA, in the press release. “Governments, financial institutions, businesses and consumers are all reaping the benefits the ACH network provides.”

According to NACHA, there were more than 3.3 billion ACH debit and close to 2.3 billion ACH credit transactions made in the third quarter of this year. During the same period, direct deposit for payroll and other consumer disbursements represented the largest number of transactions at close to 1.7 billion, which is a 3.7 percent increase. NACHA also said that 1.5 billion internet transactions were made, representing a 14.0 percent increase; business-to-business (B2B) transactions totaled 896 million, up 9.6 percent; and person-to-person (P2P) transactions were 32.7 million, up 32 percent.

The news comes after NACHA announced in late July that debit and credit transactions totaled more than 5.7 billion in the second quarter of 2018, a 6.2 percent increase from the second quarter of last year. In a press release, NACHA said the percentage increase represents one of its highest growth rates since 2008 and demonstrates that ACH payments, including same-day ACH transactions, are being embraced by businesses and consumers around the globe.

NACHA noted there were more than 3.3 billion ACH debit and close to 2.4 billion ACH credit transactions made in the second quarter of this year. Direct deposit for payroll and other consumer disbursements represented the largest number of transactions at close to 1.7 billion, which is a 4.2 percent increase. Close to 1.5 billion internet transactions were made, representing a 14.3 percent increase; business-to-business (B2B) transactions totaled 889 million, up 8.6 percent; and person-to-person (P2P) transactions were more than 29 million.