Fed triennial study shows rapid growth in electronic payments
ACH payments contributed to 90% of non-cash payment value increases in three years
Non-cash payments, especially electronic bank-to-bank transfers, rose rapidly in the US in recent years, figures published by the Federal Reserve show.
The number and value of non-cash payments in the US grew in the period from 2018–2021 by more than any other measurement period since 2000, the Fed said.
The 2022 Federal Reserve Payments Study, conducted once every three years, revealed the bulk of the increase was from automated clearing house (ACH) payments. The survey was released on April
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