(The following post is from The ACH Network (Nacha), who are participating in EPCOR's 2021 Virtual Conference as a Gold Sponsor.) There is still time to register for the May 4-5 Virtual conference at www.epcor.org!
The ACH Network: A Strong Start to 2021
Looking for proof that the ACH Network is thriving? The first quarter of 2021 tells the story.
Volume shot up more than 11% from a year earlier, to 7.1 billion payments—and setting two new records along the way:
- February saw the highest daily average ACH volume for a month with more than 118 million payments per day
- In March, ACH volume set a new monthly high of 2.7 billion payments
An important contributor to those records is Same Day ACH, which is helping meet the nation’s demand for faster payments.
In the first quarter of this year there were more than 141 million Same Day ACH payments valued at $187.6 billion. Those figures are up 88% and 133% respectively over the same time in 2020.
There have now been more than 1 billion Same Day ACH payments since inception, moving more than $1 trillion.
Every year since it was introduced, Nacha has made a significant enhancement to Same Day ACH. A third window was added this March, giving banks and credit unions an additional two hours to submit same day payments. In March 2022, the per-payment limit will climb to $1 million.
Learn more at our Same Day ACH Resource Center:
https://www.nacha.org/sda.