Banking

ACH Network reveals strong Q1 development

The ACH Network experienced general development in the very first quarter of 2022, according to figures launched by NACHA today. While much of the pandemic-related federal government support has actually ended, first-quarter development was sustained by business-to-business payments, and the boost to the Same Day ACH dollar limitation.

B2B payments increased by 15.5% from the very first quarter of 2021, with more than 1.4 billion ACH B2B payments made. That is a 35.5% boost from the very first quarter of 2020, when COVID-19 at first closed lots of offices. The Same Day ACH per-payment limitation increased to $1 million on March 18, adding to a 53.3% boost in Same Day ACH dollar worth over a year previously, to $290.3 billion, in addition to a 7.8% volume boost to 154.2 million payments.

Overall volume on the ACH Network amounted to 7.3 billion payments, up 2.2% from a year previously, and moving $18.5 trillion, a 7.1% boost.

 

Gabriel

A news media journalist always on the go, I've been published in major publications including VICE, The Atlantic, and TIME.

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