The Clearing House: ACH Paves Way for Real-Time Payments On-Ramp
Checks and card transactions are giving way to electronic payments, done through an automated clearinghouse (ACH).
“It’s a natural on ramp for real time,” he said.
ACH volumes in the United States increased 8.7% in 2021, according Nacha — previously known as the National Automated Clearing House Association — and ACH transactions over TCH’s electronic payments network (EPN) grew by 9.6% over the same timeframe, outpacing the industry’s overall volume momentum. Fifty percent of the ACH commercial volume in the United States and 55% of the volume from the nation’s 50 largest financial institutions (FIs) were carried over on EPN, according to TCH.