As Same Day ACH marks its fifth anniversary, Nacha President and CEO Jane Larimer looks at some milestones and what's ahead.

In the second quarter of 2021, Same Day ACH payment volume was 148.7 million, an increase of 82% over the same time in 2020. Those payments transferred $250 billion, up 115% from a year earlier. 

The number of payments and value conducted on the ACH Network.

A panel of end users and practitioners discusses the key features and drivers of the FedNow Service – and whether they tend to adopt the new payments system when available – as well as how new payments rails may have changed their business models.

While there’s an overwhelming desire to return to pre-pandemic life, some changes to the payments landscape are likely permanent—and that’s a good thing.

A survey by RMAG found no increase in fraud attributable to the later hours for submitting Same Day ACH payments.

Robust growth continued for the modern ACH Network in the second quarter of 2021. Payment volume climbed 9.9%, with particularly strong growth in business-to-business (B2B) payments.

As the pandemic winds down, both consumers and merchants are beginning  to figure out what the “new normal” will be. This is especially true for the way they interact with money. People are paying at the register with their phones, and merchants are accepting alternative payment methods.

The third window for submitting Same Day ACH payments to the ACH Network has quickly gained acceptance among financial institutions, according to new survey results conducted by Nacha and its Risk Management Advisory Group (RMAG).  

Nacha’s Risk Management Advisory Group has been evaluating potential risk increases and decreases due to Same Day ACH. It has consistently found no justification to fears that Same Day ACH would introduce massive amounts of risk.

Same Day ACH payments will be further enhanced with a new $1 million per transaction limit. Nacha members approved a measure to increase the per-payment maximum from the current $100,000 to $1 million effective March 18, 2022. It will apply to all eligible Same Day ACH payments, including credits and debits for both businesses and consumers.

It’s anything but a quiet Friday at Nacha. There are some big changes taking effect today (March 19) at the ACH Network: Same Day ACH, Account Validation and economic impact payments.

From the beginning in 2016 to the later hours in 2021, how Same Day ACH has seen a major enhancement every year.