Electronic Payments: Facts & Figures

According to recent surveys by the Federal Reserve, the number of electronic payment transactions - credit cards, debit cards and automated clearinghouse (ACH) transactions - have exceeded the number of check payments in the United States for the first time.

In 2003, the Federal Reserve reported there were 44.5 billion electronic payment transactions - almost 8 billion more than the number of check payment transactions during the same period of time. From 2000 to 2003, electronic payments experienced an average annual rate of increase of 13.2 percent. Check payments have declined by 4.3 percent per year.

Based on survey data collected between 2000-2003:

There are 9.1 billion ACH transactions each year at a value of about $25.1 trillion. The annual growth rate of these transactions is 13.4 percent.

There are 44.5 billion electronic payments per year at a value of $27.4 trillion. The annual growth rate is 13.2 percent.

There are 19 billion credit card payments each year at a value of $1.7 trillion. The annual growth rate is 6.7 percent.

There are 36.7 billion check payments each year at a value of $39.3 trillion. The annual rate of decline in these transactions is 4.3 percent.

Treasury Software is a leading provider of client-side file creation and transmission software for Positive Pay and ACH, as well as bank reconciliation and custom cash management solutions. Designated a Verified for Windows XP software application by Microsoft, Treasury Software is a Microsoft Certified Partner. Winner of the Gold Cup Award from CPA Software News, Treasury Software products are easy to use, secure and cost effective. For more information: www.TreasurySoftware.com or call 866-226-5732.

Can't find what you need? Contact us online or at 866-226-5732
© Treasury Software Corp. 1999 - 2014. All rights reserved.