B2B payments and same-day payments drives growth in ACH volumes
The US Automated Clearing House which is operated by industry consortium NACHA has reported an overall growth which the company says is mostly attributed to an increase in same-day ACH payments and B2B payments.
The B2B payments segment grew by 15.5% from Q1 2021 with over 1.4 billion payments volume, according to ACH’s latest quarterly numbers for Q1 2022.
“Many businesses and organisations have come to realise that ACH payments are not just the new normal, but the best way of doing business, given their reliability and convenience,” said Jane Larimer, Nacha President and CEO.
While the same-day ACH payments for which the payment limit is increased to $1 million in Q1 2022 have contributed to a 53.3% increase in the same-day ACH dollar value over a year earlier, to $290.3 billion, along with a 7.8% volume increase to 154.2 million payments.
Overall, ACH Network totalled 7.3 billion payments, up 2.2% from a year earlier, and moving $18.5 trillion representing a 7.1% increase.