0 Comments
CHICAGO - Nearly 16 billion automated clearing house payments were made in 2006, a 14.5 percent increase from 2005, according to statistics compiled by NACHA-The Electronic Payments Association.
 
"Annual ACH payment volume continues to double every five years and growth is occurring across all transaction categories," said Elliott C. McEntee, president and chief executive of NACHA. "The growth of the ACH Network shows the value that financial institutions and their customers experience from ACH payments."
 
The nation's financial institutions originated 15.4 percent more ACH payments in 2006 than in 2005.  The number of those payments was 14.98 billion, a jump of more than two billion from 2005. Inter-bank ACH payments - those sent from one FI to another - increased by 16.5 percent in 2006; on-us payments increased by 12.2 percent.
 
The remaining ACH payments were originated by the Federal government, which exceeded 1 billion ACH payments in a year for the first time, according to a news release. The Federal government's ACH volume was up 2.8 percent from 2005.
 
On the consumer side, Internet-initiated ACH payments grew by an estimated 35 percent to 1.8 billion. NACHA estimates that 85 percent of Internet-initiated ACH payments are to pay bills via companies' or billing services' Web sites; 10 percent are to transfer funds.
           
The total number of these business-to-business ACH payments grew to 2.3 billion in 2006, up 10.9 percent from 2005. Financial electronic data interchange - the electronic exchange of payment-related information or financial-related documents in standard formats between business partners on the ACH Network - grew by 8.7 percent in 2006.  
 

Related Content

Reader Comments

Add a Comment

We welcome your thoughtful comments. All comments will display your real name.

Want to participate in the discussion?

Or log in for complete access.

  • Clear
  • Post
Be the first to post a comment for this story.
Products & Services

ATM Security

http://global.networldalliance.com/new/images/products/4412.png

4412/ATM-Security

NCR Cassettes refurbished

http://global.networldalliance.com/new/images/products/NCR_cassettes_100.gif

557/NCR-Cassettes-refurbished

High End Lobby ATM - Monimax 5600

http://global.networldalliance.com/new/images/products/5090_100.gif

782/High-End-Lobby-ATM-Monimax-5600

Depositories

http://global.networldalliance.com/new/images/products/449.png

449/Depositories

EZswitch®: 2010 On-Line Interface

http://global.networldalliance.com/new/images/products/4256.png

4256/EZswitch-reg-2010-On-Line-Interface

ATM Supplies

http://global.networldalliance.com/new/images/products/Supplies_Photo_Pendum100.gif

1088/ATM-Supplies

Free Webinar

http://global.networldalliance.com/new/images/products/4079.png

4079/Free-Webinar

Kiosks and Surrounds

http://global.networldalliance.com/new/images/products/Kiosks_and_Surrounds_100.gif

1087/Kiosks-and-Surrounds

Remote File Management.iQ

http://global.networldalliance.com/new/images/products/4232.png

4232/Remote-File-Management-iQ

Cash only lobby ATM – Monimax 5000 CE

http://global.networldalliance.com/new/images/products/Monimax_5000CE_100.jpg

3730/Cash-only-lobby-ATM-Monimax-5000-CE

OptConnect
Request Information From Suppliers
Save time looking for suppliers. Complete this form to submit a Request for Information to our entire network of partners.