The Federal Reserve’s triennial payments report reveals a record 236.6 billion noncash transactions in 2024, driven by card and ACH growth.
The Federal Reserve’s 2025 triennial payments study found noncash payments by consumers and businesses surged to 236.6 billion in 2024, more than triple the volume in 2000. The data highlights shifting payment preferences amid digital adoption.
Cards remained the most frequent payment method, comprising over three-quarters of transactions by number. Debit cards dominated, though credit card usage grew faster for the first time in nearly a decade. ACH payments led by value, accounting for nearly three-quarters of noncash transaction volume.
Checks and ATM withdrawals continued declining in both number and value, reflecting broader trends toward electronic payments. The study, conducted every three years, provides insights into evolving payment behaviors.