NACHA reported this morning that online bill payment volumes increased sharply during the first quarter of 2003.
During the first quarter of 2003, NACHA estimates that more than $48 billion in online bill payments were made in which the Automated Clearing House (ACH) Network was the payment system used. That figure is half of the amount of $96 billion for all of 2002. At the current growth rate, the amount would exceed $200 billion for all of 2003. In contrast, a recent survey estimated online sales figures of $76 billion for 2002 and $96 billion for 2003.
Meanwhile, CRMdaily reports on Forrester research on business to business usage of electronic invoice presentment and payment.