Every day, banks and card networks process hundreds of millions of payment card transactions. These digital exchanges are the lifeblood of eCommerce—and many brick-and-mortar establishments, too. With so many businesses participating in this payments ecosystem, you have to wonder how all of these different entities can tell merchants apart and route their transactions to the right recipient every time.

The answer is that every merchant has a unique signifier that functions as their home address in the payments world: their Merchant Identification Number, or MID. What is the significance of your Merchant Identification Number, and what does it actually do for you?

Full Text:
https://www.chargebackgurus.com/blog/merchant-identification-number

©Chargeback Gurus 2021
Production: Emily Woodward
Narration: Phil Claffey