{"id":16380,"date":"2019-07-26T09:57:39","date_gmt":"2019-07-26T13:57:39","guid":{"rendered":"https:\/\/arli.com\/?p=16380"},"modified":"2019-11-13T07:45:38","modified_gmt":"2019-11-13T12:45:38","slug":"why-businesses-need-an-micr-check-printer","status":"publish","type":"post","link":"https:\/\/arli.com\/why-businesses-need-an-micr-check-printer\/","title":{"rendered":"Why Businesses Need an MICR Check Printer"},"content":{"rendered":"

As OCR technology evolves, many businesses are asking \u201cDo we still need an MICR printer<\/a>?\u201d The answer is a resounding YES! If you’re currently printing preprinted checks or blank check stock, you need the security that an MICR printer offers that OCR does not.<\/p>\n

Optical readers can process\u00a0numbers and\u00a0payee information on a check, but they also can open you up to a higher risk for check fraud because OCR does not address security. Check fraud is the number one type of fraud, greater than\u00a0ACH fraud, credit card fraud and wire fraud.<\/p>\n

In fact, according to a survey by JP Morgan in 2016, 75% of companies surveyed experienced attempted or actual check fraud. While you might expect the banks to absorb the losses, however, changes to the Uniform Commercial Code<\/a> (UCC) make the losses shared between the bank and the customer based upon each party\u2019s negligence.<\/p>\n

Why You Need a Dedicated MICR Printer<\/strong><\/p>\n

Today, check fraud, cybercrime, and data theft are real threats. Implementing security at the printer level can reduce the risks. Here’s why a dedicated MICR printer is a good idea.<\/p>\n