ACH Network Sees Same Day Payments Up 15.5% and B2B Rise 11.8% in ’22

Electronic Funds Transfers Surge

Same Day ACH and B2B payments on the ACH Network saw double-digit growth in 2022.

These gains came during a year in which, overall, the number of payments processed by the ACH Network grew 3% to 30 billion and the value of those payments rose 5.6% to $76.7 trillion, ACH Network governor Nacha said in a Wednesday (Feb. 22) press release.

“[The year] 2022 marked the 10th consecutive year in which the total value of ACH payments increased by at least $1 trillion,” Nacha President and CEO Jane Larimer said in the release. “This underscores the fact that the ACH Network is an industrial-strength, modern payment system serving hundreds of millions of consumers, businesses and other organizations.”

Same Day ACH recorded a 15.5% increase in volume and an 86.3% increase in the value of payments during 2022, according to the release.

Nacha attributed the surge in value to a change that it made in March: increasing the per-payment dollar limit for Same Day ACH to $1 million.

That change raised the per-payment limit up from $100,000, and Nacha said at the time that the new, higher limit would create new use cases and expand existing ones, including vendor and supplier payments for businesses, insurance claims, tax payments and payroll funding.

“Same Day ACH is a key component of today’s ACH Network,” Larimer said in the Wednesday press release.

The ACH Network also saw an 11.8% increase in B2B payments during the year, with the adoption of Same Day ACH for B2B payments soaring 44%.

This points to businesses continuing to move away from checks for the B2B transactions, Nacha said in the release.

Nacha also reported year-over-year volume increases of 8.6% in person-to-person (P2P) payments, 7.7% in internet payments and 6.1% in healthcare claim payments, per the release.

“One of Nacha’s focus areas in 2023 is encouraging dental providers to switch to ACH,” the organization said in the release. “Dental practices lag behind their medical counterparts in accepting electronic claim payments.”

In the one decline for the ACH Network reported by Nacha, direct deposit volume slipped 4.1% in 2022 — a drop that Nacha attributed to the end of federal pandemic assistance programs and fewer jobless benefit payments.

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