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.
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