“The modern ACH Network saw volume soar in the first quarter of 2021, setting two new records in the process. Quarterly volume of 7.1 billion payments was an increase of 11.2% from the same period in 2020. The value of those payments was $17.3 trillion, reflecting a nearly 19% increase from a year earlier. The first new record was set in February, when ACH volume averaged more than 118 million payments per day, the ACH Network’s highest daily average for a month.  The second was in March, when ACH volume hit 2.7 billion payments, the largest monthly volume in ACH Network history. This included approximately 110 million economic impact payments by Direct Deposit from the federal government.”

“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…The $1 million limit will be beneficial for many types of payments, from insurance claim payments and payroll funding, to business-to-business and tax payments, and many more.”

“Nacha today released its Top 50 rankings of financial institution originators and receivers of ACH payments for 2020. The Top 50 originating financial institutions handled ACH volume of almost 23.1 billion payments last year, an increase of nearly 8.6% over 2019. They accounted for 92.7% of total commercial payments volume on the ACH Network. Among receiving financial institutions, the Top 50 recorded ACH payment volume of 16.4 billion. That’s a nearly 11% increase from 2020, with those on the list accounting for 61.2% of total ACH Network volume, including payments received from the federal government.”

“Nacha, The Clearing House and The Federal Reserve—collectively comprising the infrastructure of the ACH Network—announce the successful expansion of Same Day ACH. On March 19, 2021, the operating hours of Same Day ACH were extended through the establishment of a third daily opportunity to clear and settle Same Day ACH payments. Now, Same Day ACH payments can be submitted by financial institutions to their ACH Operator until 4:45 p.m. ET, with settlement of funds occurring at 6 p.m. ET. With this expansion, the ACH Network now settles payments four times each business day.”

“A proposed class action alleges Bank of America (BofA) has misled accountholders into paying automated clearinghouse (ACH) transfer fees for a service that’s otherwise free when sending money to authorized payees.  The 19-page lawsuit claims Bank of America has exploited its informational advantage as a major financial institution and consumers’ unsophistication with regard to complicated financial mechanisms by misrepresenting and obscuring the truth about the National Automated Clearinghouse (NACHA) system, a complex system the case describes as operating “invisibly in the background of much of the nation’s electronic activity.” The complaint alleges that while any transfer made over the NACHA system can, in truth, be made for free, Bank of America nevertheless charges accountholders $3 or $10 ACH transfer fees.”

“Payments on the automated clearing house network  have been gliding upward for some time, allowing processors that handle ACH volume to tap into that growth. On Monday, Paya Holdings Inc. showed it’s among the beneficiaries. ACH volume for Atlanta-based Paya reached $3.5 billion in last year’s fourth quarter, up fully 46% from the first quarter, the company reported. That means ACH business now accounts for nearly 40% of Paya’s volume, up from a 32% share in the first quarter of 2020. Card activity, at $5.7 billion, made up the remainder of the company’s $9.2 billion in total dollar volume for the December quarter.”

“Payment volume on the ACH Network experienced record growth in 2020 as the pandemic accelerated the nation’s shift to electronic payments. The 26.8 billion payments made on the ACH Network in 2020 is an increase of 8.2% over 2019, while the value of those payments, $61.9 trillion, is up 10.8%. A record of more than 2 billion new payments were added in 2020, and the growth rate is the highest since 2007. The 2020 results also mark the sixth consecutive year in which payment volume climbed by more than one billion, and the eighth year in a row with a value increase of more than $1 trillion.”

“Direct Deposit is one of those things that’s easy to take for granted. Yet, like clockwork, it delivers employees’ pay as well as Social Security and veterans’ benefits. To help consumers better understand how it’s used every day, Nacha recently launched directdeposit.org .  The site is designed to educate consumers about ACH payments, which are often called Direct Deposit, Direct Payment, direct debit, electronic funds transfer (EFT), or electronic check (eCheck). No matter the name, consumers benefit from its speed, security and ease of use.”

“Businesses and other organizations play an important role in the modern ACH Network, which is why Nacha has created a new ACH Rules for Corporates Resource Center dedicated to assisting them. Nacha’s ACH Rules for Corporates Resource Center is a one-stop hub for corporate end users to keep up with developments to the Nacha Operating Rules and the ACH Network.”

“Mazooma, a gaming industry leader for more than 15 years, has partnered with Plaid , a financial data network powering thousands of digital apps and services, to bring an Instant Bank Transfer payment solution to igaming and sports wagering operators in certain regulated U.S. states. The offering is now available for deposits and withdrawals on BetMGM’s cashier with Borgata and Party Poker going live in the coming weeks.”

“Tempus Technologies is now a Nacha ACH Payment Facilitator Preferred Partner. In becoming a Preferred Partner, Tempus Technologies joins a select group of innovators that Nacha recognizes for offering products and services that align with Nacha’s core strategies to advance the ACH Network…For more than three decades, Tempus Technologies has earned a reputation for developing point-of-sale payment integration technology and software solutions to meet the growing business requirements of its customers.”

Nacha welcomes Nivelo to its growing list of partners– including Visa – who have signed up as an early adopter of Phixius, a payment-information exchange platform that helps organizations more securely share and manage electronic payments information.

“The ACH Network had exceptionally strong growth in the third quarter of 2020, with a resurgence of commercial volume even as some government assistance payments have largely concluded. Volume on the ACH Network totaled 6.8 billion payments in the third quarter, a 9% increase from the same period in 2019. The value of those payments, $15.9 trillion, reflects a 13.1% increase. With one additional banking day in the third quarter of 2020 compared to the third quarter of 2019, ACH Network volume compared on a per-day basis increased by 7.3%.”

“Vesta , a fintech pioneer in fraud protection and fully guaranteed payment technologies, has integrated with Plaid, a data network powering the digital tools that millions of people rely on to improve their financial lives, to launch Guaranteed ACH, a payment solution that enables online automated clearing house (ACH) payments and reduces fraud and fees incurred from nonsufficient funds.”

“The reliability and value of the ACH Network to the nation was clear in the second quarter of 2020. ACH payment volume growth of 7.9%, compared to the same period a year ago, reflects the use of the ACH Network to deliver economic assistance to individuals and businesses, as well as an acceleration in the shift from paying by paper check to paying electronically.”

“A new rule requiring all financial institutions in the automated clearing house network to participate in ACH governing body Nacha’s contact registry took effect Wednesday. The registry’s purpose is to enable financial institutions to quickly find the appropriate person to resolve issues when a transaction looks fraudulent or presents other problems.”

“The ACH Network opened 2020 with a strong first quarter, as the number of payments rose 7.1% from a year earlier. The results were driven primarily through robust growth occurring prior to the slowdown of economic activity due to COVID-19. ‘While ACH results for the entire first quarter are positive, the current coronavirus national emergency is already impacting payment system volumes, including the ACH,’ said Jane Larimer, Nacha President and CEO.  For the second half of March, there was a slowdown in payments volume. That includes ACH, where the slowdown in economic activity has affected the volume of payroll payments, bill payments, and supply chain payments. This situation is likely to continue through the second quarter.”