MATCH List and TMF for Merchants: Understanding and Solutions
If you are reading this, then it's highly probable you've found yourself on the MATCH list or TMF listing. Searching the MATCH list or initiating a TMF list search could find you in a situation every business owner dreads. You're probably wondering what these lists used for and what are the consequences?
Most of all, you're probably hoping to find a way for your high risk merchant account to survive despite this disappointing realization.
What is the MATCH list Mastercard?
The MATCH list, also known as the Member Alert to Control High Risk Merchants (MATCH), is a database managed by Mastercard. This list records businesses and their owners whose merchant accounts have been terminated for reasons such as fraud, illegal transactions, or excessive chargebacks.
The list is used by acquiring banks to help screen applicants. It helps these banks determine if businesses should receive credit card payment processing privileges.
Mastercard's MATCH list combines what was previously known as the Terminated Merchant File (TMF). High-risk merchants added to this list often struggle to secure new merchant accounts or payment processing services.
What Is the TMF (Terminated Merchant File)?
The TMF, or Terminated Merchant File, is an older designation that preceded the MATCH list. The TMF was used to track businesses that had their merchant accounts terminated. Now, the TMF has been integrated into the MATCH system.
TMF Removal
Since the TMF no longer operates as a separate entity, businesses added to the TMF are now part of the MATCH list. To get off the TMF list, you'll need to follow the same steps as for MATCH list removal.
Reasons Business Owners Have Been Added to the MATCH List
The most common cause of a retailer landing the MATCH list is chargebacks. Merchants need to know how to check MATCH list because those that exceed the chargeback thresholds will most likely see their companies appear on the MATCH list. This means that they will wind up with a frozen merchant account and, finally, a canceled merchant account.
According to the Mastercard Security Rules and Techniques, when the acquirer has reason to think one of the earlier mentioned conditions has come to be, then the acquirer may add the retailer into the MATCH list.
All developments to the MATCH list are made by the acquirers that deal with the merchants. Mastercard stipulates that "acquirers must behave reliably, reasonably, and in good faith to abide by the MATCH system requirements."
However, the listing is dependent on acquirer discretion and is wholly without checks and balances.
How Can High Risk Merchants Search MATCH List and Get Off The List?
If you suspect your merchant account has been flagged, you’ll need to know how to check the MATCH list. Unfortunately, the list is not publicly accessible. Only payment processors and acquiring banks authorized by Mastercard can search it. However, you can request a review of the MATCH reason codes through your acquiring bank to understand why your business was added.
How Long Does a MATCH Listing Last?
Once a business is added to the MATCH list, the listing generally lasts for five years. During this time, it can be extremely difficult to secure a traditional merchant account. However, after the five-year period, your information is automatically removed from the list, assuming no further issues arise.
Reasons for TMF List Removal
There are only two circumstances that would enable a TMF list removal:
The acquirer contacts Mastercard on the retailer's behalf and reports that the initial addition is in error.
The merchant qualified as MATCH list Mastercard reason code 12 (PCI-DSS Non-compliance) but has since become compliant.
High risk merchants aren't necessarily forbidden from processing credit card transactions during those five years, the business just must obtain a payment processing agreement with an acquirer that's eager to accept the added high risk. TMF list removal will allow the merchant to resume payment processing.
PayKings specializes specifically in approving high risk merchant account applications, which means that despite the added risks, we can get you approved in as little as six hours. As leaders in the industry, we have established 24+ acquiring banking relationships to become experts in getting high risk merchant accounts accepting online payments.
MATCH Listing Merchant Account Solutions From PayKings
Getting placed on the MATCH list is a challenging hurdle and also a profit-hindrance. Seeking solutions for TMF list removal or getting a MATCH listing merchant account is the only way to get out of this predicament. Given the fact that a majority of possible clients do their shopping via credit card payments, being able to process their transactions is critical to running a successful business.
Oftentimes, the time lapsed is the only real solution TMF list removal. Merchants optimize profitability to compensate for processing fees and must minimize risk to the best of their abilities.
If you dread the MATCH list Mastercard placement (it has not occurred yet, but it may), it's important to concentrate on chargeback prevention and strategic representation.
It's imperative to maintain chargebacks in a low ratio and confirm that your company doesn't breach the networks' chargeback thresholds.
Merchant Compliance Review
Compliance issues occur for many reasons. Many of them relate to your website, business practices or industry. Our own proprietary study indicates as many as 40% are due to retailer mistakes and oversights.
These errors and the chargebacks are entirely preventable. What's more important is how to check MATCH list and what to do to avoid being on it.
PayKings can assist retailers to join our partners to implement policies and reduce the risk of chargebacks to rectify these mistakes.
Chargeback Alerts
In some cases, there's minimal time for effective chargeback accounting. Merchants expecting to quickly and efficiently lower their chargeback-to-transaction ratio due to the impending danger of becoming MATCH listed should consider registering for chargeback alerts.
When the system detects fraud, based on past criminal activity, the chargeback alert triggers. Merchants have the opportunity to refund these unauthorized transactions, thereby avoiding a chargeback.
Getting MATCH List Help
As one of the causes of MATCH list positioning, chargebacks can be an expensive issue for retailers. Not only do they result in earnings reduction, but chargebacks hinder a company's ability to process credit card transactions.
Additionally, if you are on the MATCH list, you may not know what solutions are available. The good news is we have solutions for MATCH listed merchants. Our team of experts helps negotiate the best rates for your high risk merchant account.
Avoiding the MATCH List: Best Practices
For high-risk merchants looking to avoid being placed on the MATCH list, proactive measures are essential:
- Maintain Compliance: Adhere to PCI-DSS security standards to avoid compliance-related MATCH listings.
- Monitor Merchant Agreements: Be sure to understand the terms of your merchant agreement, particularly regarding chargeback thresholds and fraudulent transactions.
- Engage a Payment Processor Experienced with High-Risk Accounts: Working with processors like PayKings that specialize in high-risk accounts can help you maintain compliance and reduce the risk of MATCH listing.
What Happens If You're on the MATCH List?
If you're already on the MATCH list, finding a payment processor can be difficult, but it's not impossible. PayKings has partnerships with over 24 acquiring banks, enabling us to help high-risk merchants continue processing payments even while on the MATCH list.
MATCH List Merchant Account Solutions
PayKings offers solutions tailored to merchants on the MATCH list, helping them secure merchant accounts and process payments. We specialize in getting high-risk merchants back on track within hours, minimizing the disruption to your business operations.
Final Thoughts: Is There Life After the MATCH List?
For high-risk merchants, being added to the MATCH list is a significant hurdle, but it doesn't have to be the end of your business. By understanding how the system works and implementing the right strategies, you can navigate these challenges and continue processing payments. With the help of specialized payment processors like PayKings, you can even thrive despite the obstacles.
Key Takeaways:
- The MATCH list is a database of high-risk merchants maintained by Mastercard.
- Chargebacks and non-compliance are the most common reasons for being added to the MATCH list.
- High-risk merchants can still operate while on the MATCH list but need to work with specialized processors.
- PayKings helps high-risk merchants secure accounts and continue processing payments even when listed on the MATCH list.
For more information on how to check the MATCH list or secure a high-risk merchant account, contact PayKings today.