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  • Writer's pictureAllen Lai

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

Jim Daly - Digital Transaction News - 2/20/2019

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 transactions in September 2016 followed by same-day debits a year later.

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.

Last year’s transaction growth rate exceeded 2017’s 5.7% increaseto 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.

“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.

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