The Federal Reserve Board released initial findings from its 2025 triennial payments study on July 1. The study estimates that consumers and businesses made 236.6 billion noncash payments in 2024. Noncash payment volumes have more than tripled since the study series began tracking data in 2000.
Cards accounted for more than three-quarters of noncash payments by number. Credit card payments grew faster than debit card payments for the first time in almost a decade. ACH payments reached nearly three-quarters of total noncash payment value for the first time in 2024.
Check payments and ATM cash withdrawals continued their multi-year decline in both number and value. The study was conducted by the Federal Reserve Bank of Atlanta and the Federal Reserve Board using voluntary surveys of depository institutions, card networks, and payment processors. Additional detail will be published as analysis continues.