Merchant Identification Number (MID)

It is a unique code assigned to a merchant by an acquiring bank or payment service provider to distinguish and track transactions associated with that specific merchant. The MID helps facilitate the efficient and accurate processing of transactions, allowing for the seamless identification and reconciliation of funds related to each merchant. It serves as a critical component of the payment infrastructure, enabling financial institutions to manage and monitor transactions, settlements, and chargebacks for individual merchants. The MID is an essential reference point for identifying and managing the flow of funds within the payment system.