Despite the economic worries that have embroiled the nation this year and last, and the ACH payments continue to see year-over-year growth according to reports released by NACHA – The Electronic Payments Association.

In fact, according to a recent NACHA press release that details ACH payments in 2008, ACH payments totaled more than $18.2 billion in 2008 – an increase of $1.2 billion over 2007. Based on the press release, 2008 marked at least the second straight year of growth in ACH payments, as the 2007 total of $17.1 billion represented a 13.2% increase over 2006.

From the press release explaining the growth in ACH payments in 2008:

“Consumers, businesses, and government are continuing to embrace the safe, smart, and green attributes of ACH payments and choosing electronic over paper,” said Janet O. Estep, NACHA president and chief executive officer. “Despite the overall economy slowing in 2008, the ACH Network continues to see positive growth.”

The portion of ACH payment volume passing through the ACH Operators grew in 2008 to nearly 15 billion transactions. The number of ACH Network transactions in 2008 was 14,960,689,587, which is 7.1 percent more than 2007. The dollar value of these payments was $29.96 trillion, an increase of 4 percent over 2007.

National Check Trust has proven itself to be a leader in implementing Internet ACH programs for clients. Follow the link to learn more about NCT’s Internet ACH programs and services.

Tags: ach network, ach payments, ach programs, electronic payments association, nacha

This entry was posted on Wednesday, May 27th, 2009 at 4:37 pm and is filed under UTA Services. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.