ACH Volume Grows by 5.6 Percent Adding 1.3 Billion Payments in 2015

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NACHA Announces 2015 Largest Originators & Receivers of ACH Payments

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The ACH Network is a unique payments system providing for robust versatility with its inherent ability to process credit and debit transactions, payments and information together, domestic and international transactions, and more.

In 2015, ACH transaction volume grew to more than 24 billion electronic payments, an increase of 1.3 billion payments or 5.6 percent, over 2014 volume, according to new statistics released today by NACHA — The Electronic Payments Association®. This increase marks the second consecutive year in which ACH payments grew by more than 1 billion.[1] Additionally, a total of more than $41.6 trillion was transferred over the ACH Network last year, increasing 4 percent compared to 2014.

“The ACH Network is a unique payments system providing for robust versatility with its inherent ability to process credit and debit transactions, payments and information together, domestic and international transactions, and more,” said Janet O. Estep, president and CEO of NACHA. “It is this flexibility and adaptability that has facilitated new payments capabilities to meet the evolving needs of end users, and ultimately contributed to the Network’s consistent growth. With the advent of additional capabilities, such as person-to-person (P2P) payments, which was implemented in March of 2014, and Same Day ACH, which will become available in September, we expect to see continued growth and advancement of the Network and ACH payments.”

Credit and Debit Transactions
One of the unique attributes of the ACH Network is its ability to process both debit and credit transactions. In 2015, the Network processed more than 11 billion debit transactions, which constitutes almost 60 percent of overall ACH Network volume. While the volume of debit transactions demonstrates its importance and value to end users, end users are embracing credit transactions as well, with credits growing by more than 5 percent in 2015 to 8 billion transactions.

“Debit transactions are a valued payment type, facilitating both consumer and business-to-business (B2B) efficient bill payments,” said Estep. “But so, too, are credit transactions. Consumers and businesses alike value having options that empower them to determine how they make payments and get paid.”

B2B Transaction Growth
Specifically in the B2B transaction categories, CTX and CCD, ACH volume saw substantial increases. CTX transactions grew by 7.2 percent and CCD transactions grew by 8.2 percent. Healthcare payments, a specific CCD transaction, grew to 208 million transactions, or 39 percent.

Additionally, businesses increased their use of the Network’s unique ability to send payments and information together. Almost 2 billion addenda records containing invoice and other payment-related information were transferred over the Network through CTX and CCD transactions, an increase of 9.1 percent over 2014.

Consumer Payments: Direct Deposit via ACH and P2P
Not only have B2B transaction categories grown, but so have transactions categories in which consumers serve as the recipient of the payment. Direct Deposit via ACH – a credit transaction - is the transfer of funds from a company or government agency into an individual's checking or savings account. In 2015, the Network transferred 5.8 billion Direct Deposits, an increase of 200 million transactions over last yet.

P2P payments, a WEB/online credit transaction, saw growth as well. In its first full year of availability, P2P payments grew 670 percent to 57 million transactions.[2]

In addition to WEB credits, WEB debits saw increases as well. The Network transferred 4 billion WEB debits or online transactions, marking an increase of 12.8 percent over 2014. Combined, WEB credits and WEB debits make up 21.3 percent of overall ACH Network volume.

Network Quality Indicators
To help ensure the continued integrity and vitality of ACH payments, NACHA employs a comprehensive risk management strategy to help support and maintain ACH Network quality. Through this strategy and other risk management initiatives, the overall Network unauthorized debit return rate remained low at 0.03 percent in 2015.

Top 50 Originators and Receivers
Concurrent with the release of 2015 ACH volume information, NACHA also announced the Top 50 Originating Depository Financial Institutions (ODFIs) and Receiving Depository Financial Institutions (RDFIs) in 2015.

The Top 50 ODFIs originated 16.8 billion ACH transactions, accounting for 87.0 percent of ACH Network originated volume. The Top 50 RDFIs received 11.1 billion ACH transactions, accounting for 57.4 percent of ACH Network received volume.

For more information on ACH Network volume and Top 50 Originators and Receivers, visit http://www.nacha.org.

About NACHA — The Electronic Payments Association
Since 1974, NACHA – The Electronic Payments Association has served as trustee of the ACH Network, managing the development, administration and rules for the payment network that universally connects all 12,000 financial institutions in the U.S and moves money and information directly from one bank account to another. Through its collaborative, self-governing model, education, and inclusive engagement of ACH Network participants, NACHA facilitates the expansion and diversification of electronic payments, supporting Direct Deposit and Direct Payment via ACH transactions, including ACH credit and debit payments, recurring and one-time payments; government, consumer and business transactions; international payments, and payments plus payment-related information. Through NACHA’s expertise and leadership, the ACH Network is now one of the largest, safest, and most reliable systems in the world, creating value and enabling innovation for all participants. Visit nacha.org for more information.

[1] Includes direct-send and on-us transactions reported to NACHA. Other figures in this release refer to the 19.3 billion transactions sent through the ACH Operators, which do not include direct-send or on-us volumes.
[2] WEB credits used to identify and standardize P2P payments processed via the ACH Network became available in March 2014.

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Kendra Beasley
NACHA - The Electronic Payments Association
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