The Federal Reserve Payments Study (FRPS) is an ongoing effort to estimate aggregate trends in noncash payments in the United States, offering a periodic benchmark of developments in the U.S. payments system to policymakers, the industry, and the public. The latest release includes estimates of ACH, check, and wire payments by consumers and businesses in the United States for 2021. 

Data included in this release includes a consistent set of large depository institutions and a representative sample of smaller institutions. Among the findings it was noted that consumer ACH debit transfers, paid by a consumer and initiated by the payee’s depository institution, grew by double digits annually from 2018 to 2021.

Click Read More below for additional information about the study and to download data.