July 27, 2014
In 2013, ACH (Automated Clearing House) Network volume grew to almost 22 billion electronic payments, an increase of 4 percent over 2012, as per statistics by NACHA — The Electronic Payments Association. A total of $38.7 trillion was transferred over ACH Network in 2013, increasing almost 5 percent compared with 2012.
Started 40 years ago, ACH Network has grown into a robust payments system for the advancement of electronic payments. With the increasing movement toward an electronic, interconnected and mobile infrastructure, it’s critical that electronic payments work safely and efficiently for all users. NACHA has been the trustee of ACH Network, employing a collaborative, self-regulatory model to facilitate the expansion and diversification of electronic payments via ACH Network.
There is rising demand for payment settlements in a shorter time frame. Several use ca ...