Fed payments study: ACH transfers outnumber checks

first_imgThe Federal Reserve, in a new study on payments, found that “check payments continued their long-run decline” as the number of automated clearinghouse (ACH) debit transfers exceeded the number of check payments for the first time in 2018.The 2019 Federal Reserve Payments Study, which analyzed the growth of payments from 2015-2018, found that:check volume declined 7.2 percent per year, while check value fell 4 percent per year;ACH debit transfers totaled 16.6 billion compared to 14.5 billion check payments in 2018;more than half of in-person general purpose card payments (i.e. debit and credit transactions) used chip authentication in 2018, compared to 2 percent in 2015; continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img

Leave a Reply

Your email address will not be published. Required fields are marked *