![]() You can use terminal IDs to quickly identify transactions conducted using different terminals and, therefore, to different accounts. For instance, brick-and-mortar sales are conducted using a physical terminal, while online sales are done through a virtual POS. You conduct different transactions using different terminals, as they are meant to be routed to different accounts. In another example, let’s say that you operate using multiple merchant IDs under different merchant category codes (MCCs). This would mean that terminals B and C are remote or satellite terminals of that main unit, but any transactions initiated on the other devices are to be counted among the net totals for the entire system. Terminals B and C operate under the same operating system and network, but upload all transactions to that main terminal. Terminal A might be your main POS machine. Terminal ID numbers help banks and processors identify your equipment in relation to your network.įor instance, let’s assume that you have three payment terminals. What's the Purpose of a Terminal ID Number? However, all of your terminals can still be grouped together under a single merchant identification number as long as they’re tied to the same bank account. So, if you use three different card readers, each one has a unique TID. You have a unique TID for each of your card terminals. A transaction ID, on the other hand, traces the transaction to the specific piece of hardware used in the transaction. The bank would not be able to route the funds to you properly. Without a MID tied to a transaction, the funds would have no destination. This helps ensure that the funds go to the correct account. When you submit a cardholder’s information following a purchase, the MID is the number used to identify you throughout the transaction process. You’ll have a unique MID for each merchant account you possess. Unlike terminal IDs, a merchant identification number is a unique code provided by your payment processor. Every terminal carries one of these numbers, from main operating terminals in retail shops to pay-at-the-table remote readers, contactless terminals, and swiping stations. This eight-character alphanumeric code helps your bank, terminal provider, and payment network identify your POS terminal, what software you are using, and the location and status of your hardware. ![]() It’s used to identify the source of a transaction in relation to your specific payment system. Not to be confused with your merchant ID number (MID), your terminal ID number is unique to each specific point-of-sale terminal. The TID also enables merchants to quickly locate transactions in the event of a refund or dispute. A terminal ID number, also known as a “terminal identification number” or “TID,” is an eight-digit sequence of characters used by financial institutions to monitor which terminal is used to process a transaction.
0 Comments
Leave a Reply. |