What does MICR mean in Hardware?
This page is about the meanings of the acronym/abbreviation/shorthand MICR in the Computing field in general and in the Hardware terminology in particular.
Magnetic Ink Character Recognition
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Submitted by paul8539 on May 12, 2011
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Definition
What does MICR mean?
- Magnetic ink character recognition
- Magnetic ink character recognition code, known in short as MICR code, is a character recognition technology used mainly by the banking industry to streamline the processing and clearance of cheques and other documents. MICR encoding, called the MICR line, is at the bottom of cheques and other vouchers and typically includes the document-type indicator, bank code, bank account number, cheque number, cheque amount (usually added after a cheque is presented for payment), and a control indicator. The format for the bank code and bank account number is country-specific. The technology allows MICR readers to scan and read the information directly into a data-collection device. Unlike barcode and similar technologies, MICR characters can be read easily by humans. MICR encoded documents can be processed much faster and more accurately than conventional OCR encoded documents.
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"MICR." Abbreviations.com. STANDS4 LLC, 2024. Web. 22 Sep. 2024. <https://www.abbreviations.com/term/46821>.
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