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SVPCO reports 128 uptick in check images
NEW YORK (5/13/08)--SVPCO reported a 128% increase for April in check images compared with the same time last year. SVPCO, the paper and electronic check exchange business of The Clearing House Payments Company LLC, reported 443.7 million check images in April. The average daily volume was 20.1 million item--an increase of 118.4%, over the same time period last year. The network also reported $715.5 billion in dollar value, an 86.5% increase from April 2007. On April 7, a record 31.2 million items valued at $46 billion were handled by the network. “Check images grew strongly in April due to greater volume from existing institutions and the addition of new ones,” said Susan Long, The Clearing Housing senior vice president. A participating institution in the SVPCO Payments Network includes Members United Corporate FCU, Warrenville, Ill.


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