ACH payments increase during Q4, led by surge in same-day transactions

The ACH Network, a nonprofit that facilitates check-by-phone transactions, reported that volume grew 8.1% during the fourth quarter to 6.4 billion payments, fueled by a rapid increase in same-day payments.

Payment volume rose 10.6% to $14.7 trillion, compared with year-ago figures.

«With this impressive performance in the fourth quarter, it's evident that the modern ACH Network is thriving,» Jane Larimer, president and CEO of ACH, said in a press release.

Same-day ACH rose 39% to 71.3 million payments, marking the first quarter that such payments exceeded 1 million per day.

Business-to-business payments rose 12.6% to 1 billion. Meanwhile, direct deposit payments rose 7.6% in the quarter to 1.8 billion.

Source: ATM Marketplace