MICR (Magnetic Ink Character Recognition)
Magnetic ink character recognition (MICR) is a character recognition system. MICR technology is used by banks. The numbers and characters imprinted on the bottom of cheques (usually the cheque (serial) number, sort code (bank routing/transit number), and account number) are printed using printer cartridges, or ink cartridges, containing special printer inks, the magnetic ink. A special magnetic ink character reader is used to read the ink printed on cheques.
Magnetic ink character recognition provides a secure, high speed method of scanning and processing information. Magnetic ink character recognition or MICR is not to be confused with Optical Character Recognition or OCR, which allows a machine to recongise characters, handwritten or typed, using an optical mechanism.
MICR on a cheque – provided by NOIRE
Payment Processing Services by NOIRE
NOIRE provides industry leading online payment processing services & risk management technologies. Designed using NOIRE, “Simply Switch On”, approach to payment processing, our payment solutions are built using the latest payment processing technology enabling businesses to “Plug In” and “Switch On” payment modules with ease if and when required.
As a leading Payment Service Provider, you can trust NOIRE to find the right solution for your business. We provide everything in one simple agreement – your Internet Merchant Account, Payment Gateway and Payment Processing with all the leading cards issuers. Combined with NOIRE’s industry leading fraud & risk management solutions, merchants can be confident managing their payments safely and securely from beginning to end with NOIRE.