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NEWS RELEASE
CONTACT:
Michael Herd
mherd@nacha.org
ARC Fuels 23.6% Commercial ACH Growth
Herndon, Virginia, July 12, 2004 –
The number of Accounts
Receivable (ARC) e-check payments exceeded 208
million in the 2nd quarter 2004, an increase of 791
percent over a year ago, fueling a 23.6 percent rise
in financial institutions' Automated Clearing House
(ACH) Network volume. For the first time, ARC volume
exceeded that of Internet-initiated consumer ACH
debits (WEB), making it the largest ACH e-check
application. The dollar value of the ARC payments
was $60.8 billion. ACH payments totaled 2.23 billion
in the 2nd quarter. Financial institutions
originated 1.99 billion ACH payments, a 23.6
increase over a year ago. The remainder are ACH
payments originated by the Federal government. The
five ACH e-check applications combined for 472.5
million payments in the 2nd quarter, an increase of
120.5 percent over a year ago. In order of volume
they are: 1) ARC - 208.8 million; 2) WEB - 170.1
million; 3) TEL (consumer telephone-initiated
debits) - 45.7 million; 4) POP (point-of-purchase
check conversion) - 41.7 million; 5) RCK
(re-presented check) - 5.8 million. Figures cited in
this release do not include estimates of on-us ACH
payments, in which the originating and receiving
financial institutions are the same institution.
About NACHA - The
Electronic Payments Association
NACHA is the leading
organization in developing electronic solutions to
improve the payments system. NACHA represents more
than 12,000 financial institutions through direct
memberships and a network of regional payments
associations, and 650 organizations through its
industry councils. NACHA develops operating rules
and business practices for the Automated Clearing
House (ACH) Network and for electronic payments in
the areas of Internet commerce, electronic bill and
invoice presentment and payment (EBPP, EIPP),
e-checks, financial electronic data interchange
(EDI), international payments, and electronic
benefits transfer (EBT). Visit NACHA on the Internet
at www.nacha.org.
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