News

SVPCO swaps more images in Q1 '06

April 18, 2006

Digital Transactions: The country's largest image-exchange network reported today it handled more volume in the year's first quarter than it processed in all of 2005, while traffic reached new heights in March. Average daily volume at SVPCO's Image Payments Network, which links a dozen banks as well as the Federal Reserve for the swapping of electronic check images, hit 1.27 million items last month, up 24.2 percent from February. The daily average dollar value of these items was $4.66 billion. Volume for the first quarter amounted to 62.5 million items. The network handled 52 million items in all of 2005.

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