Definitions for "Merchant Id" Add To Word List
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Keywords: Securepay, Moto, Iti, Processor, Mid
An account number with a bank which allows a company to accept payments by credit card.
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The MID is a number assigned to a merchant to identify themselves to their provider.
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An account number from a merchant bank that allows a company to accept credit-card payments. Merchant banks establish bank accounts for the purpose of enabling companies to accept credit card payments. The merchant bank account allows a company to receive and process credit card transactions online and transfer money from the buyer's account to the seller's account.
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ITI account number.
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When you apply for your Internet Merchant Account with your financial institution, they will issue you a Merchant ID which you must supply to SecurePay. SecurePay refers to this as a Bank Merchant ID. SecurePay will also issue you with a Merchant ID, uniquely identifying your business as a SecurePay Merchant. This is referred to as a SecurePay Merchant ID.
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In order to take payments from a card, a merchant ID (MID) from an Acquiring Bank is required. The main types of merchant ID are: e-Commerce, MoTo and Recurring
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a series or group of numbers that numerically identifies each merchant account to the credit card processing company or merchant bank for accounting and billing purposes
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A credit card processor assigns this unique computer code to a merchant after he has been successfully approved to take credit card purchases. This code identifies his specific bank account into and out of which credit card funds are transferred.
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In the credit card industry, a merchant ID is a number provided to a merchant by a credit card processor when that merchant retains the services of that processor. Also sometimes called the merchant number.
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A unique set of numbers or letters and numbers that is associated with a specific merchant. The merchant ID is typically tied to a system database record that contains all merchant specific information regarding that particular merchant. This is provided by the bank or the Payment Processor.
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A specific unique number given to a merchant which retains the services of a processing organization by the credit card processing organization. It is sometimes called the merchant number.
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