FiNet Merchant Services Dashboard | Same-Day Transaction Boom Helps Propel the ACH to a $51 Trillion Year
post-template-default,single,single-post,postid-54562,single-format-standard,qode-core-1.1,ajax_fade,page_not_loaded,,brick-ver-2.0,vertical_menu_enabled, vertical_menu_left, vertical_menu_width_290,smooth_scroll,side_menu_slide_from_right,wpb-js-composer js-comp-ver-6.7.0,vc_responsive

Same-Day Transaction Boom Helps Propel the ACH to a $51 Trillion Year

Same-day automated clearing house transactions more than doubled in 2018 and the value of those payments increased 83% in the first full year of same-day ACH debit service, NACHA reported Tuesday. The same-day volumes helped the sprawling ACH network continue its growth streak, with total payments up nearly 7% and the value of those payments increasing by more than 9%.


The Herndon, Va.-based ACH governing body says same-day transactions totaled 177.9 million, up 137% from 2017, with a value of $159.9 billion versus $87.1 billion the year before. The same-day debit transaction count was 79.6 million with a value of $60.7 billion. Same-day credit transactions totaled 98.3 million with a value of $99.2 billion.


To meet growing demand for faster clearing and settlement, NACHA initiated same-day credit transactionsin September 2016 followed by same-day debits a year later.

Last year’s transaction growth rate exceeded 2017’s 5.7% increase to 21.5 billion payments worth $46.8 trillion, up 6.9% from 2016. The recent growth rates are notable considering the massive size of the ACH.Total ACH volume in 2018 hit 23 billion payments, up 6.9% year-over-year for the highest growth rate since 2008, NACHA reported. Payment value increased 9.5% to $51.2 trillion, marking the sixth consecutive year that values rose by more than $1 trillion.


“The results for 2018 make clear that the ACH network is vibrant and continues to be a vital component of the nation’s economic engine,” said NACHA chief operating officer Jane Larimer in a news release. “With more enhancements to same-day ACH being rolled out this year and next, the experience for businesses and consumers will only get better.”


Among the fastest-growing ACH categories last year were person-to-person payments, up 32.2% year-over-year to 128.7 million transactions valued at $209.6 billion. Internet payments saw transactions rise 14.2% to 5.9 billion with a value of $2.9 trillion. Business-to-business payments increased 9.4% to 3.6 billion transactions with a value of $34.9 trillion.


Direct deposits grew 4.4% over 2017 to 6.8 billion transactions with a value of $9.7 trillion.


Source: Digital Transactions

The FiNet office will be closed Thursday, November 25 & Friday, November 26 for the Thanksgiving holiday.