Magnetic Ink Character Recognition, or MICR (normally pronounced my-ker), a character recognition technology adopted mainly by the banking industry to facilitate the processing of checks. A cheque (spelled check in American English) is a Negotiable instrument instructing a Financial institution to pay a specific amount of The process was demonstrated to the American Bankers Association in July 1956, and was almost universally employed in the U. The American Bankers Association (ABA is a free-trade and professional association that promotes and advocates issues important to the banking industry in the S. by 1963. [1]. On September 12, 1961, Stanford Research Institute (now SRI International) was awarded U. Events 1213 - Albigensian Crusade: Simon de Montfort 5th Earl of Leicester, defeats Peter II of Aragon at the Year 1961 ( MCMLXI) was a Common year starting on Sunday (link will display full calendar of the Gregorian calendar. SRI International, based in the United States is one of the world's largest contract Research institutes. SRI International, based in the United States is one of the world's largest contract Research institutes. S. Patent Number 3,000,000 for invention of MICR; the patent was assigned to General Electric[2]. MICR is standardized by ISO 1004.
The major MICR fonts used around the world are E-13B and CMC-7. In Typography, a typeface is a set of one or more Fonts designed with stylistic unity each comprising a coordinated set of Glyphs A typeface usually comprises Almost all US, Canadian, and UK checks now include MICR characters at the bottom of the paper in the E-13B font. Some countries, including France, use the CMC-7 font developed by Bull. Groupe Bull (also known as Bull Information Systems or simply Bull) is a French owned Computer company headquartered in Les Clayes-sous-Bois
In addition to their unique fonts, MICR characters are printed with a magnetic ink or toner, usually containing iron oxide. Altogether there are sixteen known Iron Oxides and oxyhydroxides Magnetic printing is used so that the characters can be reliably read into a system, even when they have been overprinted with other marks such as cancellation stamps. The characters are first magnetized in the plane of the paper with a North pole on the right of each MICR character. Then they are usually read with a MICR read head which is a device similar in nature to the playback head in an audio tape recorder, and the letterforms' bulbous shapes ensure that each letter produces a unique waveform for the character recognition system to provide a reliable character result. This article deals mainly with analog tape recorders for audio applications information on digital recording, recording of video signals, and waveformogg|right|a sine square and sawtooth wave at 440 hz]] Waveform means the shape and form of a signal such as a Wave moving in a solid liquid or gaseous
The error rate for the magnetic scanning of the numbers at the bottom of a typical check is smaller than with optical character recognition systems. Optical character recognition, usually abbreviated to OCR, is the Mechanical or electronic translation of Images of handwritten typewritten For well printed MICR, 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.
In 1960s, the MICR fonts became a symbol of modernity, leading to the creation of lookalike "computer" typefaces that imitated the appearance of the MICR fonts, but, unlike real MICR fonts, had a full character repertoire. The 1960s decade refers to the years from the beginning of 1960 to the end of 1969 In Typography, a typeface is a set of one or more Fonts designed with stylistic unity each comprising a coordinated set of Glyphs A typeface usually comprises
See also
Notes
- ^ Mandell, Lewis. A bar code (also barcode) is an optical Machine-readable representation of data Optical character recognition, usually abbreviated to OCR, is the Mechanical or electronic translation of Images of handwritten typewritten "Diffusion of EFTS among National Banks: Note", Journal of Money, Credit and Banking Vol. 9, No. 2. (May, 1977)
- ^ U. S. Patent and Trademark Office, September 12, 1961
External links
- What Is MICR?
- History of MICR and the Check
- Check processing fonts around the world
- GNU General Public Licensed MICR font
- MICR Repository
- Java Glossary (defines the routing number and account number)
- MICR
- MICR Overview
- Finance::MICR::LineParser module for Perl
- U.S. Patent #3,000,000
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