HERNDON, Va. – Led by strong growth in Same Day ACH and business-to-business (B2B) payments, the ACH Network is reporting it handled 31.5 billion payments valued at $80.1 trillion during 2023.
According to the ACH Network, payment volume for the year was up 4.8% from 2022 while payment value grew 4.4%. 2023 marked the 11th consecutive year in which ACH Network value has increased by more than $1 trillion.
In addition, it said same Day ACH volume increased 22.3% and 41.2% in value, to 853.4 million payments worth $2.4 trillion. Since its inception in September 2016, Same Day ACH volume has surpassed 3 billion payments and $6 trillion.
Additional Data Points
According to the ACH Network:
- B2B payments continued to grow in 2023, with 6.6 billion payments, a 10.8% increase, as businesses continue to use fewer checks. Healthcare claim payments to medical and dental providers rose 7.7% to 488 million.
- Consumer internet-initiated payments rose 5.7% to 9.9 billion, primarily supporting bill payment and account transfer use cases. Direct Deposit volume increased 3.3% over 2022, with 8.3 billion payments to consumers.
- Nacha also released ACH Network results for the fourth quarter of 2023, in which 8.1 billion ACH payments were made with a total value of $20.5 trillion, increases of 5.8% and 5.6% respectively over the same period in 2022. There were 255.8 million Same Day ACH payments, up 41%, while the value of those payments was $662 billion, up 31.5%.
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