Magnetic Ink Character Recognition


Also found in: Dictionary, Thesaurus, Acronyms, Wikipedia.
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).
The MFPs are the Magnetic Ink Character Recognition (MICR) engineered version of Ricoh's SP 3400SF and SP 3410SF MFPs.
The SP 4210N MICR is the Magnetic Ink Character Recognition (MICR) engineered version of Ricoh's SP 4210N printer.
Offered at an unprecedented $299 MSRP, the Panini I:Deal shatters the early cost barriers associated with providing remote deposit capture to small business customers without sacrificing any of the product capabilities critical for RDC success - dual sided image capture, document franking, and high performance reading technologies in the areas of magnetic ink character recognition (MICR) and optical character recognition (OCR).