About us

SmartCard Marketing Systems Inc. in partnership with Contact Innovations Inc developed the product offering as a SAAS service for Financial Institutions & Global Enterprise to reduce upfront capital expenditures and maintenance support. The technology developed for Remote Deposit Capture (RDC) & X9 file submission clearing is a Cloud based solution with Head Office Admin dashboard, Branch operations dashboard and Corporate treasury client dashboard solution in a fully secured and redundant Data-Center environment.

  • Bank/Credit Unions
  • Investment/Brokerage Firms
  • Legal Firms
  • Governments
  • Retail/Commercial
  • Medical
  • Charity/Non-Profits

What is a Cash Letter?

A cash letter is a group of negotiable items, usually checks, accompanied by a specific set of instructions for each of the items. Cash letters are normally sent to a clearing house or the Federal Reserve check collection system. They are also called transit letters.

  • Bulk Payment Center Processing
  • Corporate Treasury Customers

About Check21

The Check Clearing for the 21st Century Act (Check 21) was signed into law on October 28, 2003, and became effective on October 28, 2004. Check 21 is designed to foster innovation in the payments system and to enhance its efficiency by reducing some of the legal impediments to check truncation. The law facilitates check truncation by creating a new negotiable instrument called a substitute check, which permits banks to truncate original checks, to process check information electronically, and to deliver substitute checks to banks that want to continue receiving paper checks. A substitute check is the legal equivalent of the original check and includes all the information contained on the original check. The law does not require banks to accept checks in electronic form nor does it require banks to use the new authority granted by the Act to create substitute checks.

The Federal Reserve Board has released the final rule to implement Check 21, including the model disclosure language for depository institutions to use in notifying consumers of their rights under the law