Magnetic Ink Character Reader (MICR)

Magnetic Ink Character Reader (MICR): 

MICR is the system which can dead characters printed in a special ink. Only certain characters written in a standard front can be read. Those characters are converted into a form that the computer can understand.

Figure: Magnetic Ink Character Reader (MICR)

Uses of MICR:

1. It is primarily used to processing cheques in banking operations.
2. MICR offers greater security than OCR and very reliable, low errors.