Page 23 - GS180501

Views

Same-day ACH dramatically reduces the clearing
Insider’sreport and settlement of ACH payments from a few days to
a few hours. It was ushered in by a set of rule changes
on payments: NACHA began implementing in 2016. The final phase of
that implementation, authorizing same-day settlement
options for ACH debits, kicked in last fall. ACH debits
are commonly used by businesses collecting consumer
Gauging gains in bill payments. (Think utilities, insurance companies and
lenders.)
ACH, faster payments "2017 marks another significant achievement in the
evolution of the ACH network, as transaction volume

By Patti Murphy was exceptionally strong and same-day ACH was made
fully available," said NACHA Chief Operating Officer
ProScribes Inc. and General Counsel Jane Larimer. In all, 21.5 billion
transactions worth a combined total of $46.8 trillion were
he volume of payments processed through the sent through the ACH last year. That's double U.S. gross
automated clearing house (ACH) system rose domestic product for the year, NACHA boasted in an
by 5.7 percent last year, while the total value April 2018 statement.
T of transactions rose 6.9 percent, according to
NACHA – The Electronic Payments Association. NACHA Adding on-us transactions brings the ACH transaction
noted that the pace of change continued into the first tally to 23.7 billion, NACHA said. Putting those numbers
quarter of 2018, when the total of ACH credit and debit into perspective, NACHA noted that the volume tally
transactions registered a 5.9 percent increase over the first translates to more than 66 transactions for each individual
quarter of 2016 – this against the backdrop of widely avail- in the United States.
able same-day ACH options.

The Conference for CX Innovators in Finance

July 10-12 2018 • Westin Copley Place, Boston

Financial Institutions

Get 25% off your CXFS pass

when you register with code:
CXFS18GREEN

Visit us at:
cxfinance.wbresearch.com