Before we begin we’ll quickly clarify what we mean by a "MID".
The Merchant Identification Number (MID), is an unique identifier provided to a brand by their payment processor to identify a specific brand location.
- You can learn more about them here.
In the event that a brand changes their payment processor, for example moving from Paypal to Stripe, their MID(s) will also change.
What impact does a MID change have?
There can be a potential delay of up to 30 days where Fidel cannot track the transactions associated with the new MID reference code.
This is due to a limitation on the card schemes’ side as Visa and Mastercard recalibrate their systems to pick up any new identifiers that pass through them. It is that recalibration process that accounts for this tracking delay.
Is there anything you can do about it?
Yes. Here are a few recommendations from us on how you can prepare and manage MID changes.
- As a preemptive measure, you may wish to consider including a clause in your merchant agreement that brands should endeavour to provide advance notice of their intention to change payment processors and make available their new MID(s) at the earliest opportunity. Furthermore, such action may result in delays in tracking of up to 30 days.
- We recommend that you emphasize this point during your merchant onboarding process.
- Ensure that new MID(s) are entered into the Fidel dashboard for the respective brand(s) in question as soon as possible.
Note: MasterCard may not recognize the new MID for a period of up to 30 days from the date of the first transaction after a brand changes their MID. Due to this limitation from Mastercard, Fidel may not track transactions from the new MID for a period of up to 30 days.
- Check with the brand(s) in question as to whether there is any overlap between when their contract with the old payment processor ends and when it begins with the new payment processor.
If there is overlap, you can consider requesting the brand(s) continue using the POS from their old payment processor until the last possible moment.
This way, Fidel can continue to track transactions through the old MIDs for as long as possible, shortening the window transactions from the new MIDs are not tracked during which the card schemes conduct the recalibration process.