The Federal Reserve Board published initial findings from its 2025 triennial payments study, showing that consumers and businesses made 236.6 billion noncash payments in 2024. The release points to continued growth in electronic payments, with the number of noncash payments more than tripling since 2000. Cards remained the dominant payment method by volume, accounting for more than three quarters of payments by number, while debit cards still made up most card payments even as credit card payments grew faster than debit card payments for the first time in almost a decade. By value, ACH payments continued to account for most noncash payments, with ACH's share reaching almost three quarters for the first time in 2024. The data also show continued declines in both the number and value of check payments and ATM cash withdrawals. The study is a joint effort of the Federal Reserve Bank of Atlanta and the Federal Reserve Board and is based on aggregate estimates from voluntary surveys of depository institutions, card networks and other major payment processors. Additional details will be released as further analysis is completed.

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