Noncash payments in the U.S. continue to grow, with the total value increasing at a rate of 9.5% per year 2018 to 2021, according to the most recent survey data from the Federal Reserve. The survey also found that tht total number of noncash payments increased at a 5.6% CAGR over the same period, driven largely by increases in the value of card payments and ACH payments.
The Federal Reserve Payments Study, published by the Federal Reserve System, provides a detailed analysis of payment and settlement trends in the United States. The report covers a wide range of payment types, including card payments, Automated Clearing House (ACH) payments, wire transfers, and checks. The latest survey analyzes data collected in 2021.
Key findings are available at: https://www.federalreserve.gov/paymentsystems/fr-payments-study.htm