adminAccording to the latest edition of the InfoSight newsletter, the Federal Reserve Board announced recently that the growth of payments using debit and credit cards and the ACH system continued to accelerate from 2015 to 2018, while check payments continued their long-run decline.
The 2019 Federal Reserve Payments Study shows that the growth rate of core noncash payments, defined for the report as debit card, credit card, ACH, and check payments, was 6.7 percent per year between 2015 and 2018. During the prior three-year survey period, core noncash payments grew at a rate of 5.1 percent per year.
Read the full InfoSight newsletter here.
