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What is a merchant ID?

Merchant accounts are unique accounts which are set up specifically for each merchant, and no matter where you go to open up a merchant account, you will be assigned a merchant ID. A merchant ID allows your business to be identified by the banks and credit card institutions, in order to accept credit card payments on behalf of your business, regardless of which type of services or products you are offering.  MyGate uses the Merchant ID to link to the bank so that bank can identify who the merchant is.
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