The volume and value of ACH payments is consistently increasing, while the Federal Reserve prepares its FedNow instant payment platform, Nacha representatives said March 23.
The Automated Clearing House is an electronic fund-transfer system run by Nacha. “We’re all working toward the future,” said Jane Larimer, president and CEO of Nacha, a nonprofit trade association for electronic payments.
“The future is going to a place where you’re seeing 27/4 banking,” she said.
In 2022, the ACH network handled 30 billion transactions totaling $77 trillion, a steady increase from 2021. “ACH is really the backbone of payment systems,” Larimer touted to ...
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