BUSINESS WIRE
(NYSE: USB) Elavon, a wholly-owned subsidiary of U.S. Bancorp (NYSE: USB) and formerly known as NOVA Information Systems, sits atop the charts for Back Office Conversion (BOC) processing, surpassing more than 4.6 million transactions in August alone, accounting for over
in converted check volumes. The announcement comes on the heels of ongoing BOC implementations of Elavon?s Electronic Check Service (ECS) solution, currently installed at more than 1,800 retail locations nationwide.
BOC solutions help eliminate the significant costs and operational hurdles that point-of-purchase (POP) conversion presented to retailers. "BOC processing enables merchants to realize the operational efficiencies and financial benefits of electronic check conversions," said Amy Gutierrez, Vice President Strategic Market Development at Elavon and a member of NACHA?s electronic check council.
From national multi-lane retail stores to local storefronts and regional chains, BOC is having a very positive impact on the way businesses process checks,? said Stuart Harvey, CEO of Elavon. "Elavon's ability to enhance BOC with our robust solutions that process all checks and provide next-day funding delivers a true value proposition to retailers."
L'Occitane, an all natural, luxury bath and body retailer, has implemented Elavon's ECS solution at its 166 U.S. locations. "We explored all of our options when it came to making the move to electronic checks," said Wilfrid Poisnel, Chief Financial Officer at L'Occitane. "We found Elavon's solution to address all of our needs and couldn't turn our backs on the time and money that their electronic check solution offered."
