Magnetic Ink Card Reader (MICR)

MICR input device is generally used in banks because of a large number of cheques to be processed every day. The bank's code number and cheque number are printed on the cheques with a special type of ink that contains particles of magnetic material that are machine readable. This reading process is called Magnetic Ink Character Recognition (MICR). The main advantages of MICR is that it is fast and less error prone.