The Clearing House’s real-time payments network handled a record 76 million transactions in the first quarter of 2024, valued at $42 billion, TCH announced today. In addition, March was a record month for the network with nearly 27 million transactions, with March 1 the single day with the most transactions, at more than 1.25 million.
Both transaction volume and value on the network have grown at an average of 15% per quarter, TCH said. The growth came from financial institution customers who use the network to move money and make payments instantly. In March, transactions between accounts or from digital wallets to checking or savings accounts increased by more than 1 million payments. Small businesses also utilized the network, with merchant settlement activity growing by more than 140,000 transactions between February and March.
