Magnetic Ink Character Recognition
Magnetic ink character recognition is the common machine language for the paper based payment transfer system. Essentially, it is the language used for processing cheques. MICR works by using magnetic ink printed characters of a special design which can be recognized by high speed magnetic recognition equipment. This series of characters provides the receiving party with information needed for processing the check including: check number, bank routing number, checking account number and in some cases the amount of the check. Advantages of using MICR are: Documents are difficult to forge. Documents can still be read after being written on, folded, and after being stamped. However, the disadvantages of this input device are: the highly stylized font required to ensure character discrimination, limitation to numbers and only about four other characters, difficulty in scanning with hand held devices, and a very shallow depth of field. Obviously, the main business use for this is in cheques.
Swipe Card
Also known as Magnetic stripe cards, the swipe card is one of the most commonly used input peripherals. Swipe cards are used as credit cards, identity cards and transportation tickets. The purpose of the input device is to store information on the black magnetic stripe on the card. This can be financial – for credit cards, or simply a code – in the case of hotel room doors. The magnetic stripe on the back of the card can be "written" because the tiny bar magnets can be magnetized in either a north or South Pole direction. It is very similar to a piece of cassette tape fastened to the back of a card. Instead of motors moving the tape so it can be read, your hands provide the motion as you “swipe” a credit card through a reader or insert it in a reader at the gas station pump. The advantages of swipe cards are that they are easy to use, and finance is usually available interest free for the first month. Swipe cards avoid the need to carry around large amounts of cash (if they are credit cards) or provide identification etc. Disadvantages are that unscrupulous shop checkout staff could swipe the card through a machine which could capture your details, and then could be used to take money out of your bank account. The magnetic stripe on the card can also be affected by magnets, as bits can become rearranged and some data may be lost. The main business uses of swipe cards are: using them as credit cards (although now being phased out) or to access rooms in hotels.
Smart Cards
A smart card, chip card, or card (ICC), is defined as any pocket-sized card with embedded integrated circuits which can process information. This means that it can receive input which is processed - by way of the ICC applications - and delivered as an output.
The applications of smart cards include their use as credit or cards, in a , for mobile phones, authorization cards for pay television, pre-pay utilities in household, and public phone payment cards. Smart cards may also be used as . The smart card chip can be loaded with funds which can be spent in parking meters or on transport systems such as the London Underground. Smart cards work by using the embedded microchip to store and access information, unlike the magnetic stripe in swipe cards. Smart cards also have a series of additional advantages over magnetic stripe cards: They are able to store much more information and also active software that stores and processes data. Greater security: chips allow the use of cryptographic techniques that provide greater protection against fraud. Disadvantages of smart cards are that: specialist reading hardware is required to use the card (though this is available at most places in the UK now.) As with other cards, then can be easily lost due to their size however there are few to none disadvantages of smart cards as input methods. A specific business situation in which smart cards could be used is to pay for goods from a supermarket, etc.
Digitiser (Graphics Tablet)
A digitiser or graphics tablet is a computer that allows the user to hand-draw images and graphics, similar to the way we draw with a pen and paper. A graphics tablet consists of a flat surface upon which the user may "draw" an image using an attached . The image generally does not appear on the tablet itself but, rather, is displayed on the computer . Some tablets are intended as a general replacement for a mouse as the primary pointing and navigation device for desktop computers. Graphics tablets work by using a lattice of wires which are just underneath the tablet surface, which pick up signals from the stylus and co-ordinate its position and on some models, the pressure that the user is using on the tablet. The advantages of this input method are that drawings and sketches can automatically be converted to a digital translation without having to use a scanner, etc. It is much more accurate than touch sensitive screens, and is more natural to use. However, the disadvantages are that graphics tablets are generally quite expensive for the average user, with large sized tablets often costing hundreds of pounds.
