Recently Released Triennial Study by the Federal Reserve Notes Ongoing Trends in Payments

The Federal Reserve recently released their triennial 2019 Payments Study, which tracked payments across payment rails, including cards, ACH, wires, and Faster Payments. In addition, this was the first time person-to-person (P2P) payments volume has been tracked in the study. From 2015 to 2018, the value of P2P payments exploded, from $2.98 billion to $20.76 billion.

In addition, the study noted a number of interesting trends, including:

This is the last Fed Payment Study that will not include significant volume in Faster Payments, such as the RTP Network. A possibility is that these credit-push solutions will siphon off even more volume from the ACH rail.