Aug 21, 2017
The general public now has the power to remain in touch on a regular basis thanks to advents in digital technology. Real-time interaction has become a cultural norm as portable device usage continues to grow in everyday life.
The idea of direct debit payments isn't new to the payment processing industry, but the modes in which individuals donate money is growing to keep up with evolving technologies. Specifically, automated clearing house payments have become popular due to their ease in use and streamlined transaction capabilities. These types of purchases now account for more than half of all non-cash payments, including personal checks and credit cards.
ACH payments have increased efficiency and timeliness of organizational transactions, and on the consumer end, direct debit payments are an easy and convenient way to donate or pay on-the-go. The growth in acceptance of e-payments in recent years has been staggering, and ACH payments accounted for $41.6 trillion in total revenue in the fourth quarter of 2015 in the U.S. ($9.8 trillion in 2013).