. MICR stands for
A: Magnetic Ink Character Reader
B: Magnetic Ink Code Reader
C: Magnetic Ink Cases Reader
D: None
Best Answer
Explanation:
- The Magnetic Ink Character Reader (MCR) is a line of characters printed on a check using a special ink that allows a reader-sorter system to recognise the characters.
- The MICR reader-sorter process allowed check processing to be automated while also making counterfeiting checks more difficult.
- Since the late 1950s, the MICR system has been used to automate check processing while making it more difficult to perpetrate check fraud.
- This system was adopted by banks all across the world.
Final answer:
Hence, option A is correct.
MICR stands for Magnetic Ink Character Reader.
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