The Credit Research Foundation in partnership with NACHA released a survey with a bold prediction. Accounts receivable professionals anticipate that as early as 2020, ACH transactions will be the leading form of payments received from business customers.
While check payments still account for nearly 50 percent of B2B payments, that trend is expected to change—and fast. The reasons for the expected rise in ACH are faster payments, greater security in payments processing, and customer demand. Customers are the primary force moving the needle on electronic payment options, which means that if they're advocating for the change, the change is here to stay.