magnetic ink character recognition (MICR)

Magnetic ink character recognition is yet another form of character recognition. This process functions by  a machine capable of reading a specific type of ink. The scanner is then able to process what it scanned into chracters. For well printed MICR documents, the "character not recognised" rate is usually less than 1% while the substitution rate of a character is in the order of 1 per 100,000 characters.