There is no question that one of the worst things that can happen to business when it comes to applying for a Merchant Account is finding out that you have been placed on the infamous MATCH list. MATCH stands for Member Alert to Control High-Risk. It is the national database related to merchants and business owners whose merchant accounts have been shut off or terminated. The MATCH system is also known as the TMF or Terminated Merchant File.
The MATCH database is contacted to enable credit card processing providers and acquiring banks to identify merchants that are considered high risk and decide if they wish to enter into a processing contract with their business or not. It also helps tells them is a former processor has lost money with that business.
Merchant Services Organizations keep payment processing information file, which contains data recorded by banks. When a business is placed on the MATCH list, they get their accounts terminated. All acquirers, processors and organizations that underwrite merchant services are required to use the system get updated with information that something is more risky than anticipated with your business.
The MATCH system keeps this information in their database for 5 years, and needless to say, blacklisted merchants will have major problems obtaining a new credit card processor. This being said, MATCH-listed merchants should look for the most reputable processors in the industry. With FinTech Group, you can get approved for a MATCH merchant account with little hassle. The paperwork is very easy and the pre-qualification process is fast. FintechMerchantAccounts.com has the highest approval rate in the industry for high-risk payment processing in the United States, and we will have you approved and ready to accept payments in as little as 48 hours. You can apply online and learn more HERE