Led by strong growth in Same Day ACH and business-to-business (B2B) payments, the ACH Network securely handled 31.5 billion payments valued at $80.1 trillion in 2023. Payment volume for the year was up 4.8% from 2022 while payment value grew 4.4%. 2023 marked the 11th consecutive year in which ACH Network value has increased by more than $1 trillion.
Major Points of ACH Network's 2023 Performance:
Overall Growth:
- Processed 31.5 billion payments, up 4.8% from 2022.
- Total value reached $80.1 trillion, up 4.4% year-over-year.
- 11th consecutive year of value increase exceeding $1 trillion.
Same Day ACH:
- Volume surged 22.3% to 853.4 million payments.
- Value increased 41.2% to $2.4 trillion.
- Surpassed 3 billion payments and $6 trillion since inception.
Business-to-Business (B2B) Payments:
- Grew 10.8% to 6.6 billion payments.
- Businesses reducing reliance on checks.
Other Highlights:
- Healthcare claim payments rose 7.7%.
- Consumer internet-initiated payments increased 5.7%.
- Direct Deposit volume grew 3.3%.
- Strong Q4 2023 performance with all figures up year-over-year.
Download Full 2023 Infographic.
Download Fourth Quarter 2023 Infographic.
The ACH Network is an integral part of a financial institution's offerings and you must not forget about your risk and compliance obligations! Remember, NEACH Payments Group experts are available to help you cross off that risk assessment or annual audit requirement. Need helping buttoning up your policies and procedures? We can do that, too! Message us for details.