The Check Seller license is now called Seller-Issuer of Payment Instruments (SPI). This license is for an individual or company that engages in the business of selling or issuing payment instruments. Payment instruments include any instrument or order, or device for the payment or transmission of money or monetary value, whether or not it is a negotiable instrument under the terms of Article 3 of Title 11, relating to negotiable instruments. The term includes, but is not limited to, checks, money orders, drafts, stored value cards, and open-loop transactions. The term does not include closed-loop transactions, credit card vouchers, letters of credit, or any instrument that is redeemable by the issuer only in specific goods or services of the issuer.
This license allows the company or individual to engage in money transmission without obtaining a separate money transmitter license.