NEW YORK — Electronic image exchange network SVPCO-Check and Electronic Clearing Services said check image over its network grew 17.15% to a record three million average daily items in July.
Its Image Payments Network reported 60.2 million in total monthly items, an increase of 6.5% compared to June 2006. The peak day of the month was July 31, when a record 4.6 million items with a record value of $14.5 billion were transmitted.
For the month, there was $8.4 billion in daily average dollar value, an increase of 17.2% compared to June 2006.
Recommended For You
"The volume in the Image Payments Network continues to grow strongly and remains on track to reach 100 million items a month by the end of the year," said George Thomas, executive vice president of The Clearing House.
Through July, the 15 institutions participating in the Image Payments Network were Bank of America, BB&T Comerica Bank, Fifth Third Bank, HSBC Bank, Huntington National Bank, JPMorgan Chase Bank, KeyBank, LaSalle Bank, M&T Bank, National City Bank, PNC Bank, Union Bank of California, Wachovia Bank, and Wells Fargo Bank.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
