Mobile Money Identifier, which is also abbreviated as MMID, is a 7-digit unique number that is used for interbank transfer during mobile banking using the MMID feature. Each account holder will have an MMID and this will help in the identification of a particular bank account.
- The Mobile Money Identifier (MMID) is the key identifying detail of a user participating in a transaction.
- An MMID is a seven-digit number given to a customer upon registration with a bank for the service.
- In the seven digits of the MMID are four digits used to identify the bank of the user and three digits used to identify the account of the user.
- A mobile number and a MMID will uniquely identify a customer’s account with the respective bank.
- The design of the MMID allows customers to operate multiple bank accounts linked to a single mobile number; each bank account has its own MMID.
- Additionally, since the MMID of the payee must be entered along with the payee’s mobile phone number, it serves to reduce the possibility of error when the payer inadvertently enters an incorrect mobile number.
