Electronic payments settled through U.S. automated clearinghouse (ACH) networks operated by the Federal Reserve System and the EPN bank consortium reached 19.90 billion in 2014, up almost 4.8% over 2013. Those transactions were valued at $40.050 trillion, an increase of 3.1%. Recurring payments account for almost half of total ACH network volume. They grew 4.4% last year. ACH transactions are credit and debit transfers of funds between consumers and businesses, businesses and businesses, governments and consumers, or governments and businesses. Funds transferred from an originator’s ac...