Magnetic Ink Character Reader (MICR)
It allows the computer to recognize characters printed using magnetic ink. It is a direct entering method used in banks. This technology is used to automatically read numbers on the bottom of the check. A special purpose machine known as a reader reads characters made of ink containing magnetized particles. A related technology is the magnetic strip used on the back of credit cards & bank debit cards that allow readers such as Automatic Teller Machine (ATM) to read account information.
Optical Character Recognisation (OCR)
It refers to the branch of computer science that involves reading text from paper and translating the images into a form that a computer can manipulate. All OCR system includes an optical scanner for reading text & sophisticated software for analyzing images. The potential of the OCR system is enormous because they enable users to hardness the power of computer to access printed document.
Optical Mark Reader (OMR)
It is also known as sense reader. It is used to read the document or answer sheet by means of light. It can read up to 450 to 650 documents per minute. It is commonly used for aptitude test.