ACH payments in the US continue to grow: How will mid-market organizations respond?
ACH processing remains a “must have” channel for US Financial Institutions (FIs) as volumes grow and new features are added. Mid-market organizations, such as Community Banks and Credit Unions need a cost effective way to modernize their solutions.
As with other payment rails in the current “Perfect storm” of changes in the payments industry, legacy ACH solutions, whether developed by vendors or in house, are feeling the pressure of continued support to cope with increasing volumes and innovation.
- In 2024, Same Day ACH payment volume topped the 1 billion mark, with more than 1.2 billion payments for the year. The value of those payments was $3.2 trillion.
- From 2023 to 2024, Same Day ACH volume soared 45.3%, more than double the growth rate from 2022 to 2023.
- ACH Network payment volume rose 6.7% from 2023 to 2024, to 33.6 billion payments in 2024. The value of those payments was $86.2 trillion, an increase of 7.6%.
Implementation of Finastra’s modern Payments-as-a-Service (PaaS) solution, Payments To Go, guarantees not only ongoing support for your ACH processing (including compliance with Nacha changes) but the opportunity to transform other rails in line with your business and operational objectives. As a PaaS solution with rapid onboarding and Time To Value, Payments To Go is targeted at mid-market organizations, levelling the playing field when it comes to accessing new, open technologies, and allowing them to modernize their payments architecture with lower cost, effort, and risk - including supporting growing ACH payments.
