Last month's volume on the SVPCO Image Payments Network jumped more than 600% from the same month last year, according to Clearing House Payments Co. LLC, which operates the image exchange system.
The New York company said last week that the number of images sent across the network increased 638%, to 143.4 million. The value of the items rose 278%, to $281.1 billion.
The average daily number of images sent was 7.5 million. The busiest day was Feb. 20, when 13.4 million items were delivered.
Eighteen banking companies and the Federal Reserve banks use the SVPCO system to send and receive check images for settlement. First Citizens BancShares Inc. of Raleigh announced last month that it was using the system.
Through its connection to the Fed, the SVPCO network can reach more than 10,000 financial company end points.
