Let’s travel back to 1990. Epson is launching their rst receipt printer. Nowadays all receipt printers use thermal paper, but back then it used dot matrix technology. And Epson was famous for creating the MX-80 dot matrix printer back in 1980.
So they took a shortcut and basically used the ESC/P language from that dot matrix printer and adapted it a bit and called it ESC/POS. And that is what receipt printers have been using ever since.