Business & Finance
02:07 PM

From Stamp To Send

It's becoming increasingly common to pay bills electronically, according to a new report.

Online bill payments may exceed $200 billion this year if the trend keeps moving in the direction it did in the first quarter.

A report from NACHA, the Electronic Payments Association, a nonprofit group representing more than 12,000 financial institutions, says that in the first three months of the year, more than $48 billion in payments were made using the Automated Clearing House Network, the central online payment system for E-payments.

That's already half the total of all online payments made in 2002, signifying an aggressive growth rate. That growth is expected to continue as more and more consumers and businesses begin to engage in online bill presentment and payment, the report says.

NACHA develops the operating rules and business practices for the Automated Clearing House Network, and for electronic payments in areas including Internet commerce, electronic bill and invoice presentment, and E-checks.

Comment  | 
Print  | 
More Insights
Register for InformationWeek Newsletters
White Papers
Current Issue
How to Knock Down Barriers to Effective Risk Management
Risk management today is a hodgepodge of systems, siloed approaches, and poor data collection practices. That isn't how it should be.
Twitter Feed
InformationWeek Radio
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.