Explanation:

Magnetic ink character recognition (MICR) is the line of numbers that appears at the bottom of a check. The MICR line is a group of three numbers, which are the check number, account number, and bank routing number.
Optical character recognition or optical character reader is the electronic or mechanical conversion of images of typed, handwritten or printed text into machine-encoded text, whether from a scanned document, a photo of a document, a scene-photo or from subtitle text superimposed on an image.
A barcode reader is an optical scanner that can read printed barcodes, decode the data contained in the barcode and send the data to a computer.  Like a flatbed scanner, it consists of a light source, a lens and a light sensor translating for optical impulses into electrical signals.
A magnetic stripe reader, also called a magstripe reader, is a hardware device that reads the information encoded in the magnetic stripe located on the back of a plastic badge.