Electronic ACH payment transaction volume grew by 5.3 percent in last year, reaching 25.6 billion transactions, according to a report today from NACHA, the electronic payments association. The total transaction value was $43.7 trillion in 2016, a 5.1 percent increase over the year prior. Nearly all ACH transactions (94.3 percent) were originated by the top 50 originating depository institutions, while 58.2 percent of all transactions were received by the top 50 receiving depository institutions.
Debit transactions accounted for 58 percent of total ACH volume. Credit transactions grew by more than 5.6 percent. More than 13 million same-day ACH credit transactions were processed since the capability became available in September, totaling $17 billion. NACHA said it expects to see same-day ACH use continue to increase as same-day debit capabilities are rolled out later this year.
NACHA also reported increases in business-to-business payments, with same-day and traditional B2B transactions accounting for 15 percent of overall ACH volume. Consumer payments transactions also grew; direct deposit transactions totaled 6.1 billion — a 5.1 percent increase from 2015 — and nearly 79 million P2P payments were processed.Email This Post