HERNDON, Va.—ACH volume grew to almost 23 billion electronic payments during 2014, an increase of almost one-billion or 5%, over 2013, according to new numbers released by NACHA—The Electronic Payments Association.
In all, more than $40 trillion was transferred over the ACH Network last year, increasing more than 3% compared to 2013.
“The ACH Network has continually added capabilities over its history to enable a host of electronic payments, such as payroll, bill payments, business payments, online and mobile payments, international payments, and a variety of others,” said Janet O. Estep, president and CEO of NACHA. “New initiatives will help us continue to provide new, efficient options for ACH Network users.”
Native electronic payments, or transactions that start and end as electronic, constituted 90% of ACH Network volume. In 2014, there were more than 16 billion native electronic payments, up 6.3% from 2013.
Specific categories of native electronic payments that saw significant growth in 2014 include online payments (web transactions), business-to-business (B2B) payments (CTX and CCD transactions), and recurring payments (PPD transactions), such as direct deposit via ACH, NACHA reported.