ACH Transactions to Top Checks as Top Form of B2B Payment by 2020: New Survey

The big growth in ACH payments anticipated by credit and receivables professionals in just three years is truly significant. It demonstrates the growing importance of ACH payments to support the evolving needs and goals of businesses.

According to a new survey conducted by Credit Research Foundation (CRF) in partnership with NACHA-The Electronic Payments Association, credit and account receivables professionals anticipate that ACH transactions will surpass checks as the leading form of payment received from business customers by 2020. Currently, checks account for almost 50 percent of payments (down from 63 percent in 2014); ACH 32 percent (up from 22 percent in 2014), cards 11 percent (up from 8 percent in 2014), and cash and wire 8 percent (up from 7 percent in 2014). By 2020, respondents anticipate that ACH will account for 45 percent of payments, checks 34 percent, cards 12.5 percent, and cash and wire 8.5 percent.

“The big growth in ACH payments anticipated by credit and receivables professionals in just three years is truly significant,” said Rob Unger, Senior Director, Corporate Relations and Product Management, NACHA. “It demonstrates the growing importance of ACH payments to support the evolving needs and goals of businesses. Because they are electronic, allow for remittance in a variety of formats to be sent with the payment, are more cost-effective than some other payments options, and can be received quickly, ACH payments are becoming a very attractive option to both accounts payable and accounts receivable professionals.”

“Today, credit executives are tasked with managing cash flow from accounts receivable efficiently and effectively, and keeping the general ledger of accounts receivable as clean as possible,”…

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