Cryptocurrency Q&A
What is a 15-digit merchant ID?
What is a 15-digit merchant ID?
TaegeukChampionCourageousHeart
Sun Dec 08 2024
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answers
1217
I'm trying to understand what a 15-digit merchant ID is. I've heard of merchant IDs before, but I'm not sure why this one has 15 digits or what it's specifically used for.
5 answers
SakuraBloom
Tue Dec 10 2024
A merchant ID holds a significant role in the financial transactions of a business.
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TaegeukChampionCourageousHeartWarrior
Tue Dec 10 2024
It is a distinctive 15-digit number assigned by the acquiring bank.
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StormGlider
Tue Dec 10 2024
This number functions as a crucial identifier to ensure payments are accurately credited to the merchant's account.
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Arianna
Tue Dec 10 2024
Similar to how the postal service relies on an address to deliver mail, the acquiring bank uses the merchant ID to route funds.
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alexander_watson_astronaut
Mon Dec 09 2024
By utilizing this unique identifier, the acquiring bank guarantees that the money received from customers is deposited into the correct merchant account.
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