What is a meaning of MID number?

MID number or “Merchant Identification Number” is a unique number assigned by the acquiring bank to a merchant account when applying for a Virtual POS terminal. When you request the opening of a POS Terminal to process payments from your online store, the acquiring bank verifies the nature of your business, and depending on the type of your commercial activity, the MID or merchant number will start with one digit or another. Regardless of the country where you have contracted the terminal, MID number may contain more or less digits or even letters.