PRC-3 · Chapter 5 · Question 30 of 74
Banks process millions of physical paper cheques daily. To do this quickly, they use a technology that reads specially formatted characters printed in magnetic ink at the bottom of the cheque. What is this called?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) Magnetic Ink Character Recognition (MICR)
Explanation
MICR is an input technology used primarily by the banking industry to securely and quickly read the routing numbers at the bottom of cheques.
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