Magnetic ink character recognition, or MICR, is a character recognition technology used primarily by the banking industry to facilitate the processing and clearance of cheques and other document. The MICR encoding, called the MICR line, is located at the bottom of a cheque or other voucher and typically includes the document type indicator, bank code, bank account number, cheque number and the amount, plus some control indicator. The technology allows MICR readers to scan and read the information directly into a data collection device. Unlike barcodes or similar technologies, MICR characters can be easily read by humans. The MICR E-13B font has been adopted as the international standard in ISO 1004:1995, but the CMC-7 font is widely used in Europe.
Read more about Magnetic Ink Character Recognition: Fonts, MICR Reader, Unicode, History
Famous quotes containing the words magnetic, ink, character and/or recognition:
“We are in great haste to construct a magnetic telegraph from Maine to Texas; but Maine and Texas, it may be, have nothing important to communicate.”
—Henry David Thoreau (1817–1862)
“Paper is soft and ink is fluid; it might be better if some pages of this chronicle could be written on chips of granite at the point of steel.”
—E. M. Almedingen (b. 1898–?)
“When needs and means become abstract in quality, abstraction is also a character of the reciprocal relation of individuals to one another. This abstract character, universality, is the character of being recognized and is the moment which makes concrete, i.e. social, the isolated and abstract needs and their ways and means of satisfaction.”
—Georg Wilhelm Friedrich Hegel (1770–1831)
“The recognition of Russia on November 16, 1933, started forces which were to have considerable influence in the attempt to collectivize the United States.”
—Herbert Hoover (1874–1964)