Magnetic Ink Character Recognition (MICR) is a technology used in the banking industry to process cheques and other documents. It uses special ink containing magnetic particles to print characters that can be read by a machine. The technology is used to quickly and accurately process large volumes of documents, reducing the time and cost associated with manual processing. MICR technology is also used to detect fraud and errors in documents, as well as to verify the authenticity of documents. MICR technology is used by banks, financial institutions, and other organizations to process cheques, deposits, and other documents. It is also used to print bank statements, credit card statements, and other documents. The technology is used to reduce the time and cost associated with manual processing, as well as to detect fraud and errors. Some companies in the MICR market include NCR Corporation, Canon, and Hewlett Packard. Other companies include Fujitsu, IBM, and Lexmark. Show Less Read more
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