MICR (Magnetic Ink Character Recognition) is character recognition technology used primarily in the banking industry to facilitate the processing of cheques.
MICR characters are printed in special typefaces with a magnetic ink or toner. A special machine is used to read these characters, which can be easily read by humans too. The characters are usually printed on the bottom strip of cheque leaf. This MICR code is used clearing process to identify the branch and bank for clearing processes. Bar coding system can make MICR bar codes for labeling banking documents. Barcode generator software provides facility to design different types of barcodes labels, stickers and tags in few steps.
