Magnetic Ink Character Recognition Code (MICR Code) is a character-recognition technology used mainly by the banking industry to ease the processing and clearance of cheques and other documents. The MICR encoding, called the MICR line, is at the bottom of cheques and other vouchers and typically includes the document-type indicator, bank code, bank account number, cheque number, cheque amount, and a control indicator.
MICR reader
MICR characters are printed on a document in either of the MICR fonts. The ink used in the printing is a magnetic ink or toner, usually containing
iron oxide. The MICR text is passed before a MICR reader. The ink in the plane of the paper is first magnetized. Then the characters are passed over a MICR read head, a device similar to the playback head of a
tape recorder. As each character passes over the head it produces a unique
waveform that can be easily identified by the system.
The use of MICR allows the characters to be read reliably even if they have been overprinted or obscured by other marks, such as cancellation stamps and signature
[citation needed]. The error rate for the magnetic scanning of a typical cheque is smaller than with
optical character recognition systems
[citation needed]. For well printed MICR documents, the "can't read" rate is usually less than 1%
[citation needed] while the substitution rate (misread rate) is in the order of 1 per 100,000 characters
[citation needed].
I don't see how OEM would produce a significantly different affect than Aftermarket. It's either magnetizable or it's not. =^..^=
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