Around the Fed

Federal Reserve Payments Study: 2018 Supplement shows accelerated electronic payments growth

This Federal Reserve Payments Study (FRPS) 2018 annual supplement (Off-site) updates data on core noncash payment types and systems that support everyday payments by U.S. consumers and businesses.

Among the important findings:

  • Card payments continued to show robust growth from 2016 to 2017, collectively increasing 10.1 percent by number and 8.4 percent by value.
  • Remote payments continued to grow as a share of total general-purpose card payments.
  • Chip-authenticated payments accounted for more than half of the value of in-person general-purpose card payments in 2017.
  • Network automated clearinghouse (ACH) payments exhibited accelerating growth, increasing 5.7 percent by number and 6.9 percent by value from 2016 to 2017.
  • Large-institution check payments showed an accelerated decline of 4.8 percent by number from 2016 to 2017.

For the full Payments Study, including charts and data tables, visit the Payment Research (Off-site) page on the Board of Governors website.