Payments

The payments landscape for community banks is changing rapidly as traditional payments converge with new instant payment systems and emerging cryptocurrencies. It is critical for Community Banks to maintain awareness of developments in the payments space to assess new opportunities, mitigate risks, and ensure that their payment strategy aligns with overall business plans.

Payments News

ACH Network volume rises 6.1% in Q4

Jan. 21, 2022

ACH Network volume increased 6.1% in the fourth quarter of 2021 from a year earlier, Nacha reported.

Details:

  • There were 7.5 billion ACH payments during the quarter, 426 million more than the same time in 2020.

  • The value of those payments, $18.9 trillion, rose 13.4%.

  • Health care claim payments recorded a 13.4% rise with 112.2 million payments.

  • B2B payments increased by 17.4%.

  • Direct Deposit volume declined 1.4% as stimulus payments and expanded unemployment benefits expired.

  • Same Day ACH volume and value rose 75.1% and 92.9%, respectively, with 169.3 million payments in the fourth quarter valued at $268.4 billion.

Next: Nacha last year approved an increase of the Same Day ACH dollar threshold from $100,000 to $1 million, effective March 18, 2022.

More: An ICBA blog post provides a breakdown of real-time and faster payments options, including FedNow, RTP, and Same Day ACH.