Electronic
Payments Top 4.5 Billion
NACHA, The National
Automated Clearing House Association, announced that Automated
Clearing House (ACH) transactions increased more than 15% last
yearó1997 ACH transactions exceeded 4.5
billion.
ACH payments include
Direct Deposit (payroll, expense reimbursements, pensions, and Social
Security checks) and automated payments (mortgages, car loans,
utility bills, business-to-business payments, and government payments
to contractors.)
"On-Us"
transactionsóelectronic transactions within a single financial
institutionóincreased by 16.7 percent to 861
million.
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