New York – Transaction volume on the EPN^® system, the ACH network operated by The Clearing House Payments Company L.L.C., grew 6.2% in 2024, continuing the trend of yearly ACH volume and value growth. In 2024, the EPN system processed 20.7 billion transactions worth $56.4 trillion, approximately half of the U.S. ACH commercial volume last year.

The EPN network’s growth since 2021 outpaced ACH industry growth, with The Clearing House’s network averaging 7.4% per year, as businesses and consumers continued to embrace electronic payments. The trend of increasing volumes is also continuing into 2025. Recently, the EPN system processed a record number of transactions on February 14, with a single day transaction volume of over 152.4 million. The EPN network is the industry’s private sector ACH network, helping financial institutions process and settle ACH transactions and providing related services. Year over year, the EPN network continues to grow and reliably processes an average of 82 million transactions daily.

ACH volume has been growing across all user types and use cases. Business-to-business payments increased almost 11.6% year over year. Direct deposit volume and person-to-person (P2P) transfers continued a multi-year trend of steady growth. Consumer-initiated payments, such as account-to-account (A2A) transfers and bill payments, also continue to increase as consumers move to faster-payment options and away from paper checks.

“The Clearing House’s EPN network continues its outstanding growth rate,” said Jason Carone, Senior Vice President of EPN Product Management, The Clearing House. "Consumers and business appreciate the convenience and security provided with electronic payments. We see growth in all our payment networks, particularly with instant payments and same day ACH payments.”

Electronic payments are increasing across all payment rails. The CHIPS^® network, the largest private-sector high-value clearing and settlement system in the world which is operated by The Clearing House, set a new daily record in late 2024 by clearing and settling 1,083,550 payments valued at $2.63 trillion. Similarly, the value settled on the RTP® network, the instant payments system also operated by The Clearing House, jumped 94% in 2024, while transaction volume grew 38%.

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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. In 2017, The Clearing House revolutionized U.S. payments by introducing 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.