NACHA:18bn ACH Payments in 2007 in the US

NACHA reported an increase of over 12% overall in the number of automated clearinghouse (ACH) payments from 2006 to 2007. This includes consumer, federal government and commercial payments. US financial institutions have shown the heaviest growth with an added 2 billion payments, bringing the number to16.9 billion.

Says NACHA CEO Elliott McEntee, “ACH payment volume continues to double every 5 years with increases experienced across all transaction categories. The 2007 Federal Reserve Payments Study, which revealed ACH payments had the largest compound annual growth rate, 18.6 percent, of all non-cash payments, confirms the widespread appeal and value of the ACH Network.”