Remove 2022 Remove FedWire Remove RDFI
article thumbnail

ACH Payment vs Wire Transfer: What’s the Difference and Which Payment Method Should You Use?

Stax

billion in 2022 and estimated it to reach $510.30 The utility company (the ODFI) passes the ACH files to the financial institution, which then sends a file with the payment request to the customer’s bank (the RDFI). Brainy Insights valued the digital payments market at $102.60 billion in 2032.