It became popular around 1840, but was in use earlier. Some say it came from the back action wenders, or swivel breech, flintlocks, so it has been in use as long as percussion guns have been around, just not as common as front action locks until about 1840.
Front action locks took out a lot of wood below the breech area, making it a weak point in the stock that was prone to breakage if dropped. We see a number of guns broken through the lock area. The back action took out wood primarily behind the breech, reducing the mortised out area under the barrel's breech and making the gun less vulnerable to breakage when dropped or mishandled. Shelby Gallien