Posted April, 24 2017
Reports robust ACH volume growth, describes NACHA API standardization initiative, and new programs for Third-Party Senders and risk professionals
“It is through NACHA’s varied programs, coupled with our steadfast support for inclusive engagement and collaborative self-governance, that we are seeing customer service enhancements and evolution on every level in this vibrant payments industry. At this event, we are here to not only talk about friction and risk – but all of us here at Faster PAYMENTS are also here to cheer payments successes, so others can learn from them,” she told a PAYMENTS audience of 2,300 attendees.
During her speech, Estep provided an update on the payments industry, and new payments solutions, including Same Day ACH; discussed how NACHA is working with the industry to address pain points with the help of APIs; and highlighted new NACHA programs, including the launch of NACHA Certified for Third-Party Senders, and the new Accredited Payments Risk Professional (APRP) program for individuals focused on managing payments risk.
Estep also touched on what is becoming a very familiar theme for anyone in the payments industry: the continued robust volume growth of ACH transactions.
- Last year saw four consecutive quarters of more than 5 billion electronic payments and a 5.4 percent growth rate in ACH transactions over 2015. That translates into more than 25 billion ACH payments with a value of $43 trillion.
- 2016’s upward trend for ACH transactions also has carried over into 2017. With more than 5 billion transactions, first quarter ACH volume has increased by nearly 7 percent over the same quarter last year.
- As overall ACH volume continues to grow, so does the adoption and implementation of Same Day ACH. This faster payment solution saw more than 13 million payments totaling more than $17 billion in the first quarter of 2017. These numbers represent a 13.6 percent increase from the fourth quarter of 2016.
Estep’s full remarks are available on NACHA.org.
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About PAYMENTS 2017
PAYMENTS 2017, the definitive destination for faster payments, is taking place April 23-26 at the Austin Convention Center in Texas. The conference is a proven, well-respected, and powerful event that provides attendees with the latest research, insights, trends and forecasts to support and drive payments innovation. This year, NACHA introduces the Faster Payments Experience, a consummate educational opportunity encompassing sessions and solutions that focus on real-time, same-day and other faster payments initiatives. Additional content is organized along five tracks — ACH; Risk & Compliance; Trending Now; Corporate & End-User Perspectives; and Payments Evolution — to address the topics of today that are impacting the payments space. The conference also offers a dynamic Exhibit Hall featuring top products and services shaping the future of payments. To learn more about PAYMENTS, visit payments.nacha.org. Next year’s conference will be held April 29-May 2, 2018, in San Diego, California.