Member Alert to Control High-Risk Merchants (MATCH) is an obligatory system for the U.S. getting (processing) banks. It is a database that includes information reported by processing banks about merchants and their owners whose merchant accounts have actually been ended for cause. The MATCH system is sometimes referred to as the Terminated Merchant File (TMF).
MATCH requirements for processors. All processing banks are needed to utilize MATCH. In particular, processors are needed to:
Include info about a merchant that is terminated for cause. If either the processor or the merchant acts to terminate a merchant account (by giving notice of termination), then the processor needs to include the required details to MATCH within five calendar days of the earlier of:
The effective termination date or
The date it received the termination notice by the merchant.
Inquire against the MATCH database. When a processor considers signing an agreement with a merchant, it must first check MATCH for details on whether the merchant was ended by another processor.
MATCH system functions. MATCH offers processing banks the list below fraud detection functions and choices for evaluating risk:
Processors can include and look for information about as much as 5 principal and associate business owners per merchant.
Processors can designate regions and nations for database searches.
MATCH uses several fields to identify possible matches.
MATCH modifies all information and alerts inquiring processors of errors as records are processed.
MATCH supports retroactive alert processing of information living on the database for up to 120 days.
Processors identify whether they want to receive query matches, and if so, the kind of info the system returns.
MATCH processes data sent by processors once daily and offers daily information response files.
Processors can access MATCH data online in real time.
An inquiring processor can call the listing processing bank straight to determine whether the merchant that is being reviewed is the same merchant formerly reported to MATCH, ended, or asked about within the past 120 days.
MATCH database searches. MATCH browses the database for possible matches between the information supplied in the questions and the following:
Information reported and kept throughout the past 5 years.
Other inquiries during the past 120 days.
MATCH look for both possible precise matches and possible phonetic matches. All positive MATCH responses are thought about “possible matches” because the search mechanisms can not guarantee a real and exact match with absolute certainty. There are 2 kinds of possible matches, including an information match (for example, name to name, address to address) and a phonetic (sound-alike) match made using special software application. It depends on the inquiring processor to figure out whether a possible match is trustworthy.
MATCH searches return the very first 100 responses, including all ended merchant MATCH responses, despite the variety of possible matches.
Merchant records remain on the MATCH system for five years. Each month, MATCH automatically purges any merchant info that has been in the database for five years. Member Alert To Control High-Risk (MATCH)