NEW YORK—Same Day ACH and B2B payments on the ACH Network saw double-digit growth in 2022, new data show.
These gains came during a year in which, overall, the number of payments processed by the ACH Network grew 3% to 30 billion and the value of those payments rose 5.6% to $76.7 trillion, ACH Network governor Nacha said in a release.
“[The year] 2022 marked the 10th consecutive year in which the total value of ACH payments increased by at least $1 trillion,” Nacha President and CEO Jane Larimer said in a statement. “This underscores the fact that the ACH Network is an industrial-strength, modern payment system serving hundreds of millions of consumers, businesses and other organizations.”
Same Day ACH recorded a 15.5% increase in volume and an 86.3% increase in the value of payments during 2022, according to the release.
Increased Limits
Nacha attributed the surge in value to a change that it made in March: increasing the per-payment dollar limit for Same Day ACH to $1 million, Pymnts.com noted.
That change raised the per-payment limit up from $100,000, and Nacha said at the time that the new, higher limit would create new use cases and expand existing ones, including vendor and supplier payments for businesses, insurance claims, tax payments and payroll funding, Pymnts.com said.
The ACH Network also saw an 11.8% increase in B2B payments during the year, with the adoption of Same Day ACH for B2B payments soaring 44%.
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