magnetic ink character recognition

1 definition found

magnetic ink character recognition - Free On-line Dictionary of Computing (26 May 2007) :

  Magnetic Ink Character Recognition
  MICR
  
     <business, printer> (MICR) A character recognition system
     using special ink and characters which can be magnetised and
     read automatically.
  
     MICR is used almost exclusively in the banking industry where
     it is used to print details on cheques to enable automatic
     processing.
  
     (1995-04-13)