Merchant Accounts For TMF and MATCH List
Let me start by first defining the the two terms for you. MATCH represents Member Alert to Control High-Risk Merchants and is a merchant blacklist. Formerly referred to as the Terminated Merchant File (TMF). Created by MasterCard it’s a main resource for acquiring banks and payment processors that flags you is a credit card processor lost money with you. It contains information on your business if you have had your merchant accounts closed for a number of reasons.
Common reasons I have witnessed include high chargebacks scams and PCI non-compliance. You can have your merchant account listed if you closed a previous account with an over-drawn balance. Of course you would also make the list if you engage in prohibited or unlawful activity. If you otherwise break a payment processing contracts that will do it too. Acquirers need to be accredited with MasterCard’s MATCH program.
Accredited acquirers can access the database to make risk-based decisions about boarding you as a merchant. Using 14 reason codes as a guide as to whether or not to approve you for a merchant account.
When you are on the list the black mark can just about wipe out your chance for your businesses to be approved to accept credit cards and process payments.
Fortunately for you some high risk credit card processors will look at your application on a case by case basis if you are on the MATCH list.
FinTechMerchantAccounts.com is one of those companies and the company I work for. Instead of automatically denying you for being a MATCH merchant. Good business requires that I look into the details and compensating factors to approve you for a merchant account. So you can once again accept credit cards as a method of payment for your business.
By far the most typical reason I see of why you were placed on the MATCH list is code 04: Excessive Chargeback Ratio. Having a Chargeback Mitigation Team solves this problem.
My team uses specialty proprietary software that will help you to prevent disputed payments. This will prevent a chargeback from being initiated to your business and likewise assist you in controlling inevitable instances of “friendly fraud.
That is when a patron challenges a payment made to you that was really correct but they did not recognize it on their credit card statement. I understand and can work with the fact that you will have mishaps that occur if you are in the business of online retail and e-commerce. I also screen to ensure that you are operating lawfully and are attempting to correct the reason that you were placed on the MATCH list. I do this before I approve your merchant account and board you.
How to check the MATCH List and How to get off the MATCH list
The MATCH list is comprehensive. it consists of names of the organization, business owners and even associates. They have already thought of and closed all of the loopholes in the system like altering your business name to avoid being listed. Merchants are kept the MATCH list for 5 years before the records are eradicated. You can just be removed from the list within 5 years by the original merchant services company that listed you. There are just two cases that can result in your early removal.
You were put on MATCH for PCI non-compliance and is now certified
The merchant services company contacts MasterCard and states the addition was incorrect
Usually you won’t even know you are on the list until you take an application and get denied for that reason. Although it sounds like a death rattle to your company. There is an award winning leaders in the industry like FinTechMerchantAccounts.com that can provide merchant accounts specifically for MATCH/TMF merchants.
With a MATCH List / TMF Merchant Account from FinTechMerchantAccounts.com you can accept credit & debit cards ACH & e-checks and mobile payments. I am mindful that you are in business to make a profit so I do this a rate that does not consume your earnings.
Don’t let a MATCH listing destroy the business you built!
I can integrate with any payment gateway and allow your business to accept and process online payments. Payments over the phone. By e-invoice and set up recurring billing. You will have access to an extensive features and functionality designed to expand and grow your business. Start by calling me for a consultation. You can also contact me by completing my contact form on my home .page . Chat with the assistant at the bottom of your screen. Call us at 617-718-7235.
Merchant Accounts For TMF and MATCH List and How to check and get off the TMF/MATCH list Video
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