As the world of eCommerce continues to skyrocket, so does the world of electronic payments. It’s likely that at the current rate, physical cash may become obsolete in the not-so-distant future.

The Electronics Payment Association NACHA announced significant increases in the ACH Network transactions.

Here are the numbers:

$25.6 billion | Amount of 2016 overall ACH monetary transactions

5.3 percent | Percentage increase of ACH transactions from 2015 to 2016

52 percent | Percentage increase in number of ACH same-day direct deposits

12 billion | Number of ACH debit transactions processed

38.5 percent | Percentage of P2P payments increase


Source: http://www.pymnts.com – Payments
Today In Data: ACH Network Sees Record Growth