MICR Number Method
MICR number method is the authorisation process that uses the sort code (bank routing/transit numbers), chequing account numbers and cheque number imprinted along the bottom of the cheque.
MICR code contains nine digits, with each three digits signifying some important information about the bank and the transaction.
MICR number method speeds up the process of clearing cheques, as the machines are almost error-proof. Under the MICR number method, the machine can identify the bank account and the actual branch of the bank the cheque is from, using the bank account number, and then the machine activates the Automated Clearing House process.
MICR Number Method – Payment Processing Services 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.
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