New York – Transaction volume on EPN, the ACH network from The Clearing House, increased 9.6% in 2021, outpacing the broader ACH market as financial institution customers continued the shift to electronic payments that accelerated during the pandemic.
Overall, 2021 U.S. ACH network volume increased 8.7%1 as business and consumers switched to electronic payments. During that time, EPN carried approximately 50% of overall ACH U.S. commercial volume and 55% of the volume from the 50 largest financial institutions. There are approximately 300 financial institutions processing with EPN. With the upcoming NACHA rule change that increases the value limit for Same Day ACH transactions to $1 million, volumes across U.S. ACH networks should continue to rise in 2022 and beyond.
“The increasing ACH volume on TCH’s network reflects the shift to electronic payments the economy has seen during the past few years,” said Jason Carone, Senior Vice President of ACH Product Management, The Clearing House. “EPN also carries half of the commercial ACH volume in the United States, a number that continues to grow as participants turn to TCH to handle their continually increasing electronic payments volume.”
EPN is the industry’s private sector ACH network, helping financial institutions process and settle ACH transactions and providing related services. The Clearing House and the Federal Reserve are the only ACH operators in the U.S., each handling essentially half the commercial ACH market. Year over year, EPN continues to grow and reliably processes approximately 70 million transactions each day, with over 121 million during the most recent daily peak.
1 “ACH Network Sees 29.1 Billion Payments in 2021 , Led by Major Gains in B2B and Same Day ACH” NACHA, February 3, 2022.
About The Clearing House
The Clearing House operates U.S-based payments networks that clear and settle more than $2 trillion each day through wire, ACH, check image, and real-time payments. It is the nation’s most experienced payments company, with a long track record of providing secure and reliable systems, payments innovation, and strategic thought leadership to financial institutions. Most recently, The Clearing House has revolutionized U.S. payments infrastructure with the RTP® network, which supports the immediate clearing and settlement of payments, along with the ability to exchange related payment information across the same secure channel. These RTP capabilities enable all financial institutions to offer safer, faster, and smarter digital transaction services for their corporate and retail customers. Learn more at www.theclearinghouse.org.
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