NACHA reported that 2011 ACH payment volume totaled more than 20.2 billion transactions, up more than 4% from a year earlier.
The increase was attributed to additional native electronic payments, more online payments by consumers and a rise in the use of the ACH Network for vendor payments and business-to-business transactions, NACHA said Thursday.
Native electronic payments, which are payments that start as electronic, increased about 5% from 2010. This indicates that more customers and businesses are making electronic payments rather than through cash or checks, Janet O. Estep, president and chief executive of NACHA, said in a news release.
Consumer-initiated entries transactions rose about 13% year over year. Direct ACH debit payments authorized through the Internet or a mobile device increased more than 9% and made up about 16.7% of the total network volume.
As for business-to-business transactions, CTX transactions grew by almost 13% and CCD transactions rose almost 5% from 2010.
Healthcare related payments will add 2 Billion + ACH transactions to the network over the next few years as this industry seeks further administrative efficiency.
Third party processors (TPPPs) are also contributing to the ACH volume and we are consequently seeing increasing regulatory activity here (See related article) http://pymnts.com/news/businesswire-feed/2012/april/17/laru-corp-develops-a-solution-for-fdics-2012-third-party-payment-processor-tppp-guidance-20120417007115/
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