Merchant services are essential for businesses to process credit and debit card transactions. However, navigating merchant services can be challenging, especially when dealing with the MATCH (Member Alert to Control High-Risk) list, also known as the Terminated Merchant File (TMF). This blog explores the MATCH list, its implications for merchants, and how businesses can avoid or address being listed.
What is the MATCH List?
The MATCH list, managed by MasterCard, is a database tracking merchants and their principals who have had their accounts terminated due to various issues. Acquiring banks and payment processors use this list to evaluate the risk of new merchants. Being on the MATCH list indicates a problematic history that raises concerns for potential processors.
Reasons for Being Placed on the MATCH List
Merchants can be added to the MATCH list for several reasons:
- Fraud: Involvement in fraudulent activities, such as using stolen card information or misrepresenting transaction details.
- Excessive Chargebacks: A high chargeback ratio (above 1%) suggests frequent disputes, indicating potential issues with transactions or customer satisfaction.
- Non-Compliance with PCI DSS: Failure to meet Payment Card Industry Data Security Standards can lead to breaches and unauthorized data access.
- Identity Theft: Establishing accounts using falsified or stolen identities.
- Laundering: Using one’s account to process transactions for another business, circumventing regulations or hiding transaction details.
- Violation of Payment Network Rules: Breaching card network regulations set by Visa, MasterCard, etc.
- Financial Instability: Insolvency or financial issues impacting the ability to meet obligations.
Length of Time on the MATCH List
Businesses typically remain on the MATCH list for five years from the date of termination. This period allows acquiring banks and payment processors ample time to assess the risk of working with previously terminated merchants. During this time, businesses may face significant challenges in securing new merchant accounts.
Implications of Being on the MATCH List
Being listed on the MATCH list has several consequences:
- Difficulty Obtaining a Merchant Account: Acquiring banks and processors use the MATCH list to screen new applicants, making it hard to secure a new merchant account.
- Higher Fees and Stricter Terms: Finding a processor willing to work with you may result in higher fees, reserves, or stricter terms.
- Reputation Damage: A MATCH listing can damage your reputation, making it difficult to build trust with processors and customers.
- Limited Payment Options: Without a merchant account, businesses may have to rely on less favorable payment methods, potentially losing customers.
Steps to Avoid Placement on the MATCH List
- Maintain Compliance: Adhere to PCI DSS and other relevant regulations to ensure the security of cardholder data.
- Monitor Chargebacks: Implement strategies to minimize chargebacks, such as clear product descriptions, excellent customer service, and easy return policies.
- Accurate and Transparent Processing: Ensure accurate transaction details and avoid deceptive practices.
- Financial Management: Keep your financial health in check and address any issues promptly.
- Know Your Customers: Verify customer identities to prevent fraud and avoid processing transactions for suspicious entities.
What to Do If You’re Placed on the MATCH List
If you’re on the MATCH list, take these steps:
- Understand the Reason: Contact your previous processor to learn why you were placed on the list.
- Rectify Issues: Address the specific issues leading to your listing, such as improving security measures or resolving chargebacks.
- Seek Legal Advice: Consult with a legal expert specializing in payment processing and merchant services if needed.
- Explore Alternative Processors: Look for high-risk merchant service providers experienced with the MATCH list, who can offer tailored solutions.
- Rebuild Your Profile: Demonstrate to potential processors that the issues have been resolved and are unlikely to recur.
Check If You’re on the MATCH List
To see if your business has been placed on the MATCH list, you can check the list through MasterCard’s official channel. Unfortunately, there isn’t a direct online lookup for the MATCH list accessible to the public. However, you can contact MasterCard or work with a high-risk merchant service provider to help determine your status.
Conclusion
Understanding the MATCH list and avoiding its pitfalls is crucial for businesses that rely on merchant services. By maintaining compliance and transparency, businesses can protect themselves from being listed and ensure smooth payment processing. If you’re already on the MATCH list, there are paths to remediation and opportunities to rebuild with the right strategies and support.
For more information on high-risk merchant services, visit High Risk Match.
Feel free to contact us at info@highriskmatch.com or call 1-877-242-2009 for personalized assistance.
Meta Description
“Learn about the MATCH Termination List and its impact on merchant services. Explore reasons for placement, implications, and how to avoid or address being listed.”
Meta Keywords
MATCH list, merchant services, terminated merchant file, high-risk merchants, payment processing, chargebacks, PCI DSS compliance, merchant account termination, fraud prevention, high-risk payment solutions
