“ Magnetic ink character reader” <ul><li>On the left hand side is magnetic ink character on a cheque </li></ul>Magnetic Ink Character Recognition , or MICR , is a character recognition technology used primarily by the banking industry to facilitate the processing of cheques and makes up the routing number and account number at the bottom of a check.
ABOUT MICR <ul><li>MICR is a type of input device </li></ul><ul><li>It is a method to read characters on paper printed with special magnetic ink. </li></ul><ul><li>A MICR reader reads a set of characters that have been pre-printed using an ink containing magnetic substances. </li></ul><ul><li>A MICR has a high speed </li></ul><ul><li>I t is high reliability </li></ul>
MICR characters are printed in special typefaces with a magnetic ink or toner, usually containing iron oxide. As a machine decodes the MICR text, it first magnetizes the characters in the plane of the paper. Then the characters are passed over a MICR read head, a device similar to the playback head of a tape recorder. As each character passes over the head it produces a unique waveform that can be easily identified by the system. The use of magnetic printing allows the characters to be read reliably even if they have been overprinted or obscured by other marks, such as cancellation stamps and signature. The error rate for the magnetic scanning of a typical check is smaller than with optical character recognition systems. For well printed MICR documents, the "can't read" rate is usually less than 1% while the substitution rate (misread rate) is in the order of 1 per 100,000 characters.
<ul><li>Unicode </li></ul><ul><li>MICR characters were added to the Unicode Standard in June 1993 with the release of version 1.1. </li></ul><ul><li>The Unicode block that includes MICR characters is called Optical Character Recognition and covers U+2440–U+245F: </li></ul><ul><li>Below is a optical character on a bill which can be read by the optical character reader </li></ul><ul><li>The optical character reader is similar to the Magnetic ink character reader but the speed and accuracy of MICR is high compared with OCR </li></ul>
FONT <ul><li>The major MICR fonts used around the world are E-13B and CMC-7 . In the 1960s, the MICR fonts became a symbol of modernity or futurism, leading to the creation of lookalike "computer" typefaces that imitated the appearance of the MICR fonts, which unlike real MICR fonts, had a full character repertoire Almost all Indian, US, Canadian and UK cheques use the E-13B font. (The "13" in the font's name refers to the 0.013 inch grid used to design it.) Besides decimal digits it also contains the following symbols: (transit: used to delimit a bank branch routing transit number), (amount: used to delimit a transaction amount), (on-us: used to delimit a customer account number), and ⑉ (dash: used to delimit parts of numbers, e.g., routing numbers or account numbers). </li></ul>
<ul><li>THE ADVANTAGES OF MICR </li></ul><ul><li>The processing speed and the accuracy is high compared with OCR. </li></ul><ul><li>Characters can be read by human and machine. </li></ul><ul><li>Documents prepared by MICR characters are suitable for turnaround. </li></ul><ul><li>Higher security because MICR is not easy to modify. </li></ul>
<ul><li>THE DISADVANTAES OF MICR </li></ul><ul><li>A high standard of printing is required. </li></ul><ul><li>A high standard of document is needed to keep down rejection rates. </li></ul><ul><li>It has only 14 characters. </li></ul><ul><li>MICR readers and encoders are expensive. </li></ul><ul><li>Damaged cheques cannot be read. </li></ul>