Magnetic Ink Character Recognition


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Related to Magnetic Ink Character Recognition: Optical Mark Reader, Barcode reader

Magnetic Ink Character Recognition

(business, printer)
(MICR) A character recognition system using special ink and characters which can be magnetised and read automatically.

MICR is used almost exclusively in the banking industry where it is used to print details on cheques to enable automatic processing.
References in periodicals archive ?
Also in May, the Board approved making permanent two services that had been the subject of pilot programs: check truncation (in which the bank holds the check and transmits payment information electronically) and the electronic capture of check data encoded for magnetic ink character recognition (MICR).