Image volume in '06 beats projections

Image volume in '06 beats projections
Tags: Bank / Credit Union, Deposits / Check 21, EFT Networks, Transaction Processing
May 18, 2006

Digital Transactions: A faster-than-expected ramp-up in transaction volume is forcing the country's largest image-exchange network to refigure its growth projections. The Image Payments Network, operated by SVPCO, a unit of New York-based The Clearing House Payments Co. LLC., handled 35.2 million check images in April, up 20.6 percent from March, according to statistics released by SVPCO. In April 2005, the network handled just more than 1.6 million images. At its current rate of growth, the network will process 50 million items by June, The Clearing House's executive vice president, George Thomas, said.