FedACH / ACH Network

CECOBAN, the only clearing house authorized by Banco de México, processed 140 million total operations for 38 participating institutions in 2023 with 4.9% annual growth. Daily TEF transaction volumes range from under 80,000 to over 700,000 depending on corporate payroll timing, reflecting the batch system's concentration around scheduled disbursement dates.

First-quarter 2026 data from EBA Clearing, KIR, and Bankgirot reveals batch ACH volumes contracting across multiple European markets as instant payment platforms post double-digit growth, with real-time credit transfers now exceeding one-quarter of total euro-area volume.

Resolution BCB No. 554, effective March 30, requires all direct participants in Brazil's instant payment system to configure minimum balance thresholds and optional automatic account blocking for their Conta PI settlement accounts at the central bank. The regulation follows a cyberattack on BTG Pactual that diverted approximately R$100 million from the bank's settlement account on March 22.

South Africa's instant payment system reached 461 million cumulative transactions worth R403 billion through 2025. Despite rapid volume growth, independent research shows PayShap captures less than 7 percent of debit transactions at the most-adopted banks. Per-transaction fees of R6 to R10 create a structural barrier to the daily-use patterns seen in zero-fee systems like PIX and UPI.

EBA Clearing's large-value hybrid payment system reached its highest monthly averages of 2025 in December, processing 207,642 transactions per day worth €207 billion. The system enters 2026 with 36 direct participants and 34 directly addressable sub-participants, the latter growing from 28 as non-bank PSP access pathways expanded.

The seven-percentage-point gain in instant credit transfer market share between H1 2024 and H1 2025 reflects early effects of the EU sending mandate, but the persistent gap between 23 percent volume share and 7 percent value share signals that corporate treasury flows remain on standard rails.

Six merchants including Air France, E.Leclerc, and Orange have signed Wero agreements, nine banks provide 90 percent French account coverage, and the national tax authority DGFIP has stated its intention to adopt Wero for public invoices. The specific launch date remains unconfirmed as EPI's original H1 2026 target approaches.

Three outcomes are possible. The Eighth Circuit could reverse the vacatur, preserving Regulation II and the current cap. It could affirm the vacatur, potentially returning debit interchange fees to pre-2011 levels.

TARGET T2, EURO1, and STEP2-T will close for Good Friday and Easter Monday on April 3 and 6, while RT1 and TIPS continue 24/7 instant settlement through the four-day window at their current combined rate of over 10 million daily transactions. With six months of IPR sending mandate compliance behind the market, the Easter period offers a practical measure of how effectively instant rails now absorb payment flows that previously depended on batch settlement schedules.

After R$6.5 billion in PIX fraud losses during 2025 and a 7 percent fund recovery rate, Brazil's central bank is enforcing MED 2.0, an upgraded refund mechanism that traces stolen money across multiple account hops with automatic blocks at each node. Supervisory penalties for non-compliant institutions begin in May 2026, completing a phased rollout that started with optional adoption in November 2025.