The MICR techology has been invented around the mid-fifties to help processing the growing number of checks that took much too long to handle by hand. At the same time, tape recorders became commonplace, and micr technology basically uses the same technology : the bottom of checks is scanned by multiple tracks magnetic heads close to those used in tape recorders, and through the special design of MICR characters, a unique electronic signal is generated by each digit or symbol.
Magnetic readers are used to process very rapidly and accurately checks automatically, and to help settle amounts as fast as possible. This is the reason why magnetic ink is necessary to print MICR data. Regular ink could not generate any valid signal: regular laser printer toner contains mostly graphite and plastic, both non-magnetic. Inkjet ink contains mostly water, or another solvant, transporting small particles of non-magnetic colorant.
The MICR standard has been developped by a group of scientists and engineers from Stanford Univesity, and the American Bankers Association (ABA). Today, U.S. banks require MICR fonts to be compliant with the ANSI standard. Other countries use the same standard, such as Australia, Canada, Columbia, Japan, the United Kingdom and Japan.
www.sri.com/about/timeline/erma%2Dmicr.html
Last edited on 2005.03.06 15:46
