As the world of eCommerce continues to skyrocket, so does the world of electronic payments. It’s likely that at the current rate, physical cash may become obsolete in the not-so-distant future.
The Electronics Payment Association NACHA announced significant increases in the ACH Network transactions.
Here are the numbers:
$25.6 billion | Amount of 2016 overall ACH monetary transactions
5.3 percent | Percentage increase of ACH transactions from 2015 to 2016
52 percent | Percentage increase in number of ACH same-day direct deposits
12 billion | Number of ACH debit transactions processed
38.5 percent | Percentage of P2P payments increase