The Computer Revolution/MICR Reader
Magnetic ink character recognition is a technology used by banks, small businesses and retail stores to aid in processing checks. MICR characters are usually located on the bottom right side of the check and include the bank routing number, check number and account number. MICR readers are used to read those special characters and can add new characters, such as the transaction amount. There are also MICR readers incorporated in many ATM’s, making remote check deposit available 24/7. MICR technology is getting so advanced that consumers are able to use their cellphones to deposit checks into their accounts by sending a multimedia message to their bank account using specified apps!
