Who invented Magnetic Ink Character Recognition and when?

Magnetic Ink Character Recognition (MICR) was developed in the late 1950s by a team led by Dr. David D. L. W. W. H. E. "Bill" Robinson, an American engineer. The technology was designed for the banking industry to facilitate the processing of checks and other documents. It gained widespread adoption in the 1960s, particularly in check processing systems, due to its efficiency and reliability.