Magazine article Business Credit

ACH Transaction Volume Continues to Climb

Magazine article Business Credit

ACH Transaction Volume Continues to Climb

Article excerpt

Based on conversations with colleagues at industry events, it appears other companies are also increasing their use of ACH, with much more room to grow.

Automated Clearing House (ACH) transaction volume totals increased in 2015 by some 1.3 billion payments, or 5.6%, over the prior year, marking the second-consecutive year ACH payments grew by more than one billion. The trend is one that ACH service providers and credit professionals expect to continue.

"We started out with the goal of doing 30% of our payments through ACH, and now were over 70%," said Susan Archibeque, CCE, director of credit at Nicholas and Company and a speaker at the NACM's 120th Annual Credit Congress & Expo in June. "Using United TranzActions and DadeSystems to automatically export and import payment information electronically has made us much better able to handle our workflow." She added, based on conversations with colleagues at industry events, it appears other companies are also increasing their use of ACH, with much more room to grow.

More than $41.6 trillion in payments was transferred over the ACH Network in 2015, a 4% increase over 2014, according to a statement by NACHA--The Electronic Payments Association. …

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