Is It a Happy First Birthday for Back Office Conversion?: Industry Research Report

Is It a Happy First Birthday for Back Office Conversion?

Published Date: March 2008

Published By: TowerGroup

Page Count: 6

Order Code: R301-1428

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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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