Little things can add up, in this case to $720 million a year.
NACHA said its 2012 Exceptions Benchmarking Study shows that while just 0.58% – or about one in 200 – bill payments were not able to be posted accurately upon receipt by billers in 2011, that added up to 130 million payments.
And handling those exceptions costs the industry about $720 million annually, NACHA, the Electronics Payment Association said. NACHA's Council for Electronic Billing and Payment said the 2012 exception rate was up from the 0.4% recorded in the previous study in 2007.
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