MICR (Magnetic Ink Character Recognition)

MICR (Magnetic Ink Character Recognition)

Magnetic Ink Character Recognition refers to the recognition of the numbers that are typically found at the bottom of checks. Once recognized, the numbers can automatically be processed by a payment processor.

Related Terms

  • DSO (Day Sales Outstanding)

    The total accounts receivables divided by average daily sales.

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  • 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...

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