Merchant Identification Number (MID)
A Merchant Identification Number (MID) is a unique identifier assigned to a merchant by their acquiring bank or payment processor. This number is used in all transactions and is crucial for identifying the merchant during the payment process.
Multiple MIDs can be used by a single business to manage different locations or lines of business. For example, a large retailer with multiple stores may have a separate MID for each location, while a business with both online and offline sales channels may have different MIDs for each.
Having separate MIDs can help merchants to better track and manage their transactions, as well as to facilitate accounting and reporting processes. It can also help in reducing the risk of fraud and chargebacks by allowing merchants to implement different security measures for each line of business or location.
Merchants should work with their acquiring bank or payment processor to determine the appropriate number and structure of MIDs for their business.