This milestone is validation of the accelerated ramp up of image volume due to our members' efforts focusing on interoperability and the expansion of receive-eligible routing numbers.
DALLAS (PRWEB) June 7, 2007
The surge in image settlement represents:
-- Increase of more than 10 percent over last month's image item volume
-- Increase of more than 625 percent over May 2006 image item volume
-- Dollar volumes rose from $13 billion last May to $194 billion in May 2007, representing an increase of more than 1,490 percent
-- 39 percent of all item volume settled in May 2007 by NCHA
"May was a record month for NCHA image settlement," said Tom D'Aquisto, president of the check services division of NCHA. "This milestone is validation of the accelerated ramp up of image volume due to our members' efforts focusing on interoperability and the expansion of receive-eligible routing numbers."
NCHA is the only organization of its kind that provides settlement services for all types of transactions (Checks, Images, ECP, Returns, and Adjustments through both automated and manual entries) in a single application.
About The National Clearing House
The National Clearing House (NCHA) is a member-owned and member-driven national association. NCHA provides check, image, and ACH services and products to its membership, including clearing, settlement, risk management, training, education, ACH audit, and payment resources and publications. NCHA is the single largest settler of clearinghouse check and image volume in the United States, settling more than six billion items annually.
NCHA provides a standardized settlement platform supporting industry standards and rules and has been recognized as the leader of settlement activities and a gateway to all major providers of both check and image services, including the top 20 banks in the nation, allowing its constituents the ability of choice. NCHA is a payments organization that continues to expand services through valuable partnerships and alliances in its commitment to provide risk management-related services, promote image exchange, and provide various payment products and services. Visit NCHA on the Web at http://www.TheNCHA.com and http://www.1PRO.org.