The number of check images handled last month by the SVPCO Image Payments Network jumped 104% from a year earlier, to a record 444 million.
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The Clearing House Payments Co. LLC, which operates the network, said Monday that the value of the images carried on the network climbed 70.4%, to $669 billion, and the average daily volume increased to 21.1 million items.
Twenty-seven banks and credit unions and the Federal Reserve Board use the SVPCO network, including Sterling Federal Bank of Illinois, which began using it last month.
