Difference between MICR and OCR

The main difference between MICR and OCR or magnetic ink character reader and optical character reader is that the MICR is mainly used for specialized and pre-defined text format such as cheques and demands used in banks and they can with the help of iron oxide ink which can be detected with the magnetism but OCR is used for a wide variety of purposes unlike MICR and with the development of technology the OCR is being incorporated every where they are used for image processing, text processing, scanning documents and these are done with the help of optics (light) the OCR can even be used for searching the images or text on the internet.

 

Difference between MICR and OCR

MICR OCR
MICR stands for magnetic ink character reader OCR stands for Optical character reader
MICR works with a specific format of document i.e. checks OCR works with any format of the document
MICR can only support some predefined fonts such as E – 138 OCR can support any type of fonts
MICR only scan inks that are made with iron oxide OCR can scan any variety of ink
MICR inks are specifically magnetic in nature  OCR inks can be magnetic in nature
MICR do not use artificial intelligence to recognize the text  OCR uses artificial intelligence to recognize the text
MICR requires a high speed and secure method to scan and process the information OCR may require high speed but a secure method is not always the case
MICR typeface is limited to only 14 characters which include 0-9 and special symbols OCR can support any typeface with the right software
The accuracy of MICR is always a hundred percent as it deals with the official document The accuracy of OCR is never completely a hundred percent and its accuracy increases with technological improvement
The MICR applications include particularly prevention of frauds from counterfeit checks, airlines may use MICR to validate flight tickets The OCR applications include a wide range of purposes such as recognition of text in images, scanning the written text from any file format, recognition of text from the number plate of the car, etc.
The MICR scanned data are used in the banks to recognize the information on checks and demands The OCR scanned data can be used for editing and printing such as scanning text from books and reusing it 
It uses magnetism to read the character from the text It uses light to read the character from the text
The MICR deals with pre-decided text and therefore are more accurate The OCR deals with complicated text and symbol and thus are less accurate but more useful 
The data from the MICR are more reliable The data from the OCR are less reliable
MICR requires specialized hardware programmed with some instructions to read the text OCR requires specialized software which is able to recognize the text
MICR cannot scan handwritten texts OCR can scan handwritten texts
MICR is used for processing the cheques OCR is used for editing and printing

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