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SameDayACH is ready for its debut at the end of the week, and for some, its launch signals the next step for the payments industry to become faster and more digital. But a new report finds that, even as SameDayACH is fast-approaching, businesses are actually increasing their use of paper checks.
2 million | Number of SameDayACH transactions made in the first 11 days of SameDayACH’s availability, according to NACHA’s statistics. Those statistics also stated more than 178,000 SameDayACH transactions were made per day, accounting for a total of approximately $1.5
The research, also published by the AFP for its 2016 Electronic Payments Survey , found a 1 percent increase in the use of paper checks for B2B payments compared to levels seen in 2013. Some financial service providers have reacted to the seeming inability for corporates to let go of paper by giving into demands for check solutions.
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