Elavon Reports on Success of Retail Check Conversion Service

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.”

Elavon works with retailers to tailor processing, conversion and imaging options that increase operational and financial efficiencies. More than 40,000 U.S. merchants of all sizes have implemented Elavon’s ECS solution, choosing the right mix of processing methods, security and convenience. Elavon’s flexible choice of options fit any retail environment, including:

• The ability to process all checks – consumer, business, government, etc. – electronically, eliminating the need for multiple acceptance and handling processes depending on the type of check presented.
• Real-time financial processing that automatically and systematically leverages three processing methods including direct Demand Deposit Account (DDA) access. Automated Clearinghouse Processing (ACH), and Check Replacement Document processing (CRD) using traditional banking networks.
• A choice of processing methods: point of purchase (POP), back office conversion (BOC), accounts receivable conversion (ARC).
• A range of imaging solutions: the point of sale, in the back office, in a centralized location or via 10 outsourced imaging ECS item processing centers Nationwide.
• Customizable risk service levels – from conversion only to verification and guarantee.
• Fully automated returns handling that keeps retailers financially whole throughout the process.