MICR (Magnetic Ink Character Recognition)

The information printed on a check in magnetic ink. The MICR information helps MICR scanners retrieve important information from the check including the routing number, account number and check number. Special magnetic ink toner cartridges are used by check printers as well as authorized users of check by phone systems.

Related Terms

  • IVR (Integrated Voice Response)

    Integrated voice response or integrated voice recognition are payment systems that use the telephone to automate the capture of transactional information from a payer. Payers may either...

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  • WEB (Internet Initiated Entries)

    A standard entry class code that enables an originator to debit a consumer’s account pursuant to an authorization obtained from the receiver via the internet.

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