Herd, NACHA

New data from NACHA-The Electronic Payments Association show the explosive growth of consumer-initiated Internet automated clearing house debits, known in the ACH world by the three-letter transaction code WEB, or more generically as "e-checks." In 2003 there were 689 million WEB payments, up 195% compared to 2002, and the second consecutive year in which the number of WEB payments tripled.