MICR

 MICR stands for Magnetic Ink Character Recognition. It is a technology used primarily in the banking industry for the processing of checks.

The MICR encoding on a check is a series of numbers and characters that are printed using a special magnetic ink. The encoding includes the bank's routing number, the account number, and the check number.

When a check is processed, it is read by a machine that uses MICR technology to read the magnetic ink characters. This enables the machine to quickly and accurately process the check by identifying the bank, account, and check number.

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