AI
Tuesday, July 29, 2014 7:56:47 AM
from the Fed reserve payment study quoted by Ed yesterday
http://www.frbservices.org/files/communications/pdf/general/2013_fed_res_paymt_study_detailed_rpt.pdf
"the number of checks paid declined more than 50 percent since 2000 (from 41.9 billion to 18.3 billion), while the non-check portion of noncash payments (card and ACH) more than tripled (from 30.5 billion to 104.1 billion)"
"Automated Clearinghouse Payments
•ACH payments continued to grow in traditional consumer and business categories such as payroll, prearranged bill payment, and cash concentration and disbursement. Internet-initiated ACH (WEB) payments have significantly contributed to overall ACH growth."
New data from the detailed report allowed more accurate estimates of the number and value of in-house on-us ACH. Estimates of the number and value of network ACH payments are unchanged. Because of the change in the in-house on-us estimates, the previously reported estimates of the total number and value of ACH for 2012 have been revised.
The new ACH estimation method creates a break in series in the measurement of total ACH, particularly by value. Therefore, comparison of total ACH volume trends by number will be retained but the value trends will not.
•The total number of ACH payments previously reported has been revised downward slightly to 21.7 billion.
•The new estimate of the value of in-house on-us ACH payments of $144.1 trillion is approximately triple the size of the previously reported value.
•The average value of a network ACH is estimated to have been $2,202, the overall average value of an ACH in 2012 is now estimated to have been $6,638.
http://www.frbservices.org/files/communications/pdf/general/2013_fed_res_paymt_study_detailed_rpt.pdf
"the number of checks paid declined more than 50 percent since 2000 (from 41.9 billion to 18.3 billion), while the non-check portion of noncash payments (card and ACH) more than tripled (from 30.5 billion to 104.1 billion)"
"Automated Clearinghouse Payments
•ACH payments continued to grow in traditional consumer and business categories such as payroll, prearranged bill payment, and cash concentration and disbursement. Internet-initiated ACH (WEB) payments have significantly contributed to overall ACH growth."
New data from the detailed report allowed more accurate estimates of the number and value of in-house on-us ACH. Estimates of the number and value of network ACH payments are unchanged. Because of the change in the in-house on-us estimates, the previously reported estimates of the total number and value of ACH for 2012 have been revised.
The new ACH estimation method creates a break in series in the measurement of total ACH, particularly by value. Therefore, comparison of total ACH volume trends by number will be retained but the value trends will not.
•The total number of ACH payments previously reported has been revised downward slightly to 21.7 billion.
•The new estimate of the value of in-house on-us ACH payments of $144.1 trillion is approximately triple the size of the previously reported value.
•The average value of a network ACH is estimated to have been $2,202, the overall average value of an ACH in 2012 is now estimated to have been $6,638.
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