E-check dollar volume surges over past two years, NACHA says
The use of e-checks for online consumer purchases grew to $401 million last year, more than three times the $114.4 million in 2002 and more than 12 times the $32 million in 2001, reports NACHA, the Electronic Payments Association.
In the first quarter of this year, e-checks accounted for $103 million of online consumer purchases, double the $51.6 million in the same period last year, NACHA says.
The number of e-check transactions for online consumer purchases grew to 6.9 million transactions last year, triple the 2.3 million transactions in 2002 and 9 times the 750,000 in 2001, NACHA says.
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