Protecting your MID brings us back to protecting yourself from chargebacks. This streamlines the process of having and identifying separate revenue streams. For example, businesses like hotels and restaurants frequently use multiple channels, each of which has its own Merchant Account and Terminal ID. Unlike the MID, the TIDs can be grouped together under one MID. Many sellers have multiple card terminals and thus, multiple TIDs. TIDs or Terminal Identification Number are a unique string of numbers used to identify card terminals. It’s a unique ID that cannot be edited or changed. MIDs are a string of letters and numbers given to you by your payment processor. TIDĬomplicating things even further, it’s easy to confuse TIDs with MIDs. A merchant can have as many bank accounts as they have money to put in them, but they only need one MID to route funds through to all those accounts. While you may need multiple houses, or accounts, for each store or business unit you transact as, you only need one MID. Think of your MID as a postal code, and your Merchant Accounts as addresses within that postcode. It’s important not to confuse a Merchant Account with a Merchant ID, as they are often used interchangeably.
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