The Federal Reserve released the first results of its 2025 triennial payments study, showing a rise in noncash transactions for 2024. The study found 236.6 billion noncash payments in 2024, more than triple the number recorded in 2000. Card payments dominated, representing over three-quarters of all transactions. Debit cards remained the most used card type, but credit card usage grew faster than debit for the first time in almost a decade. ACH transfers accounted for nearly three-quarters of noncash payments by value, its largest share yet. Check payments and ATM cash withdrawals declined in both volume and value. The study, jointly conducted by the Federal Reserve Bank of Atlanta and the Fed Board, will provide further analysis in the coming months.
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