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Is It a Happy First Birthday for Back Office Conversion?

Published by: TowerGroup

Published: Mar. 17, 2008 - 6 Pages


Table of Contents


Report Coverage

Back Office Conversion

Exhibit 1 First Year Transaction Volumes for NACHA Standard Entry Codes Released 2000-07

Factors Impeding Adoption of BOC

Exhibit 2 Annual Transaction Volume for NACHA Back Office Conversion (BOC) (2008-12P)

Summary

Abstract

March 2008 marks the first anniversary of NACHA's Back Office Conversion (BOC), a new process for conversion of paper checks to electronic debit available for point-of-sale and manned bill payment locations. As with any new option, there is a ramp-up period, but BOC experienced the slowest "out of the gate" start of all Standard Entry Class (SEC) Codes released by NACHA since 2000. BOC had a poor showing in its first 9.5 months, with approximately 4.2 million transactions in comparison to POP's 33.6 million during its first 9.5 months. This ViewPoint assesses the growth of BOC in its first year and offers insight into the obstacles impeding adoption and external pressures on BOC.

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