Today In Data: ACH Network Sees Record Growth

As the world of eCommerce continues to skyrocket, so does the world of electronic payments. It’s likely that at the current rate, physical cash may become obsolete in the not-so-distant future.

The Electronics Payment Association NACHA announced significant increases in the ACH Network transactions.

Here are the numbers:

$25.6 billion | Amount of 2016 overall ACH monetary transactions

5.3 percent | Percentage increase of ACH transactions from 2015 to 2016

52 percent | Percentage increase in number of ACH same-day direct deposits

12 billion | Number of ACH debit transactions processed

38.5 percent | Percentage of P2P payments increase