MICR is Magnetic Ink Character Recognition, so an MICR printer prints with magnetic ink, on to things like cheques. You'll see it printed across the bottom of cheques, with information like the account number and branch code. They can then be read magnetically. You'll often see a cheque being put through a machine to read them in the banks.
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There are many features of Magnetic Ink Character Recognition (MICR) printers. These are primarily used on the bottom checks and can be read by both humans and computers.