The Federal Reserve released initial findings from its 2025 triennial payments study on July 1. Total noncash payments by US consumers and businesses reached 236.6 billion in 2024. ACH payments accounted for almost three-quarters of all noncash payment value for the first time.
Credit card payments rose to 67.1 billion in 2024, up 16.2 billion from 2021. Debit cards accounted for 64 percent of all card payments by number, down from 68 percent in 2021.
Check payments declined to 9.2 billion, falling 1.8 billion from 2021. The Federal Reserve said additional data will be published as analysis continues.