MICR is the short form of Magnetic Ink Character Recognition. It is a character recognition technology mostly used in the banking industry to help the processing and clearance of checks and various bank documents and details. The technology enhances the banking system and facilitates the process. It supports for clearing of a large number of checks every day. Day by day the technology spread all over the world.
The MICR line which is also known as MICR encoding is located at the bottom of the check and other documents that include bank details like bank account number, bank code or check number, amount and other coding.
The technology enhances the MICR readers so that they can read the information and scan the checks directly. The MICR font set has 14 characters in it. It is very helpful for the readers to scan a large number of checks at a time.
The MICR fonts are used for check printingor can be printed in a document. The printing of the check lies in the bottom line of the check. This print is very important for the readers to scan. The very important thing here is the fonts detected by scanner should be perfect that means every detail should be printed accurately with MICR.
The technology fulfills all the need of the scanner and also need of the banking system. The most important thing is MICR toner. The toner is the ink used in the printing which is a magnetic ink. In check printingtoner is used to detect the font characters.
MICR toneris actually ink that contains iron ore which is iron oxide. It is different from normal toner because MICR text is passed before the MICR reader. The ink which is used inMICR check printing is made with iron oxide because after drying the ink the strength should be high signaled. The code numbers and font characters should be of high signal so that the bank reader does not have to face any problem about the details.
The higher amount of iron is used to enable the magnetic signal for the readers. The main computer system can easily de – code the numbers. The toner used in daily life is similar to this toner but the regular toner does not have much more iron ore.
Now, we can say that the toner plays an important role in MICR check printing along with the different banking detail. The reader detects it perfectly and the banking system uses it to store details on the main computer of each customer. This system is mainly used in America, Canada, Australia, United Kingdom and other countries. The code and fonts were developed in America that follows the ANSI font standards.
The check information is automatically read by machines and thus the signal strength should be specific and perfect. Thus many countries have started the MICR technology in the banking system. The MICR makes the work easier and convenient for the banking system. After a few days we will see the MICR technology will be followed by every country in the world.
MICR –Excellent Technology for Character Recognition