In such event, the termination of your Stripe account may land you on the MATCH list and/or TMF, all because the company didnt perform its due diligence upfront. Being on the MATCH list wont affect any current merchant accounts that are in good standing. Bonsai Point of Sale Copyright 2023 Merchant Maverick. Leave us a note below. If you wish to take credit cards through, say, Apple Pay, youll still need a processor, and your business will still be checked against the MATCH list before your account can be approved. eMerchantBroker has a proven track record of providing reliable payment processing services to high-risk businesses, making them a trusted partner for small business owners in need of TMF/MATCH payment processing. However, this doesnt have to be a nail in the coffin of your business. 08: Mastercard Questionable Merchant Audit Program. The merchant was involved in fraudulent collusive activity. The Mastercard MATCH list is a gatekeeper of sorts that keeps detailed records on each merchant on the list. It is very similar to the Terminated Merchant File, an older system that is falling out of favor and being replaced by MATCH. Yes, but its not common. The third and last reason you can be taken off the MATCH list is if you were put on the list because you were not PCI compliant but have since become compliant. It is not intended as legal or financial advice. 03: Laundering. Sadly, if they paid with a credit card, giving a refund isn't free to you. In the past, Mastercard made it really easy for acquiring banks to add merchants to the list, but, in recent years, theyve become stricter with their guidelines. Quantitative criteria Two MATCH reason codes have specific numeric thresholds defined by Mastercard for when processors must add accounts to MATCH. Host Merchant Services is an excellent option for small businesses looking for reliable TMF/MATCH payment processing solutions. In a card-present setting, this means inserting the card into a chip reader or swiping it. To be removed from Mastercard's MATCH list, a merchant or business owner must follow the credit card giant's standard rules and procedures. If a merchant believes their business was mistakenly included in the MATCH list, they should contact the acquiring bank by phone or email and explain their situation. Soar Payments. Your email address will not be published. Most of them discover theyre on it when they submit an application for a new account and are denied. However, a merchant must wait roughly five years to get off the list for all other violations unless it was added by mistake. Our review of eMerchantBroker gives the company an A rating overall and the BBB assigns the company a rating of A+.. This is a quick way to verify whether a merchant has a history of poor business activities or has ever had their ability to process payments revoked. However, eMerchantBroker provides the perfect solution for small business owners who need to accept credit card payments from customers purchasing TMF/MATCH products. Acquiring banks and processing companies register for an account on Mastercard Connect. What Is The Match List And How It's Useful - IncomeHolic How to Avoid Being Placed on the MATCH List How to Check if You Are on the MATCH List How to Get off the MATCH List If you believe your name was added to MATCH accidentally, you will need to contact the bank that added your name to the list. Phillip has researched and reviewed over 1,000 merchant services providers over the last 15 years. Mastercard created and manages the MATCH and TMF lists. Acquiring banks may reference the MATCH List to screen merchant applicants and determine the risk they pose prior to providing a merchant account. eMerchantBroker.com offers custom pricing for each merchant and maintains a low complaint rate relative to its size and merchant portfolio. Yes, but its not frequent. But if you were put on the list due to bankruptcy or illegal activity, youre out of luck. Be sure to check out our in-depth review of EMB. If youre found to be in violation of your merchant agreement, you may circumvent finding a credit card payment processor altogether if its proving to be too difficult. Send me an email notification when someone replies to my comment. Global can help. If, for example, a merchant is added for reason code 12Noncompliance with PCI data security standardsthey may be removed once they achieve compliance. Which Business Bank Account is Right For You? By then, its too late to avoid getting on the list, and the only thing you can do is to try to get off it. Because the money exchange is made between two account holders of the same service, theres no need to go through an acquiring bank to set up the account, so theres no reason for anyone to check your business against the MATCH list. Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. Credit Cards Statistics & Facts. How to Get Off MATCH | Protect Your Business from MasterCard's MATCH List When the review is finally conducted, sometimes months later, they may reject an application for a variety of reasons. Merchants who have been flagged have difficulty finding banks and payment processors who will work with them. Look for a processor that offers dispute resolution assistance, chargeback alerts, and fraud detection and prevention tools. Chris is a graduate of the University of Central Florida. 02: Common Point of Purchase. The company has not received any negative complaints on consumer forums, and it customizes its pricing according to each merchants business type and processing history. The MATCH list indicates the level of risk of doing business with you, and some acquirers and processors have a higher tolerance for risk than others. Some payment processors offer a MATCH list merchant account, but the fees are often exorbitant. For more information, visit the Host Merchant Services website or call (888) 591-9026. Don't let your MATCH listing define your business. MATCH automatically deletes data that has been in the system for five years every month. Based in Woodland Hills, California, PaymentCloud is a merchant account provider that specializes in serving high-risk business types. The MATCH list keeps track of merchants deemed to pose an unacceptable level of risk. In most cases, youll still need to contact the acquirer who added you to the list, but in this specific case, if your old acquirer is unwilling to assist, you can contact Mastercard directly. How To Make The Right Choice, Buy Now Buttons: The Key To Selling On Your Blog Or Website, Mastercards Security Rules and Procedures (SRP), Section 11.5, The 5 Best Commercial Real Estate Loans For 2023, The 6 Best Startup Business Loans For 2023, The 6 Best Equipment Financing Companies For Small Business, WooCommerce Payments: What You Need To Know To Get Started, The 7 Best ERC Companies For Getting Your ERC Funds, The Best Credit Card Payment Processing Companies For Small Business, The 9 Best Corporate Credit Cards For Businesses, Best POS For Small Business: 2023 Guide To Choosing The Right POS System For Your Small Business, The Complete Guide To Getting A Free Square Card Reader For Your Business. A merchant can be added to the MATCH List in several ways. The main reason why your business may end up on the TMF is repetitive or excessive chargebacks. Phillip Parker is the creator and author behind this website. Most of the time, merchants may prevent their names from being added to the MATCH list by adhering to all standards and laws and keeping their chargeback and fraud rates at a minimum. The MATCH list can be removed in only three different ways. These high-risk processors have less favorable terms, but they can allow you to continue accepting credit cards. The truth is that most merchants wont know that they are TMFd or MATCHd until they submit an application for a merchant account to a new processor and get declined. Determining the root cause of the problem and improving customer service can help lower chargeback rates. Some have expertise in removing people from the MATCH list and can likely tell you immediately what your chances are, thanks to that experience. Features and Benefits Mastercard Alert To Control High-risk Merchants (MATCH) lets an acquiring partner look up whether another acquiring partner has terminated a merchant in the past and the reason for said termination, to help with an onboarding decision. Ready for the ultimate credit card processing experience? ACH and echeck cant completely fill the niche of credit cards due to being relatively slow and cumbersome but are particularly useful for subscriptions and recurring payments. Ask us your questions here. The TMF is a list maintained by the credit card processing industry that keeps track of business and business owners whose merchant accounts were terminated for excessive chargebacks, participation in fraudulent activity, money laundering, or similarly severe account misuse. Payment processors, banks, and other financial institutions use this list when deciding whether to do business with a merchant. The MATCH system keeps track of merchant information for five years. Therefore, there is no need to set up the account through an acquiring bank. As a result, it is extremely difficult for businesses selling TMF/MATCH products to find a payment processing solution that meets their needs. A Complete Guide to Navigating the TMF/MATCH List - PaymentCloud However, only the entity that puts a merchant on the list can remove that merchant from the list. This expertise can save you time and money while providing peace of mind. For instance, if you land on the list due to a mistake by the acquiring bank, you can almost certainly get off the list right away. Compliance is essential for TMF/MATCH businesses, particularly with regard to regulations such as the Payment Card Industry Data Security Standard (PCI DSS). However, Host Merchant Services (HMS) is an excellent option for businesses looking for TMF/MATCH payment processing solutions. Otherwise, you will need to wait five years for your information to be purged from the list. Kathryn has a working knowledge and years of experience in finance, investments, markets, consumer and business banking, student loans, and more. Whether you're looking to save money on processing or to get approved for a merchant account, PaymentCloud can help. Our TMF or MATCH list merchant accounts allow you to get back to receiving credit card and eCheck payments - without exorbitant fees or excessive scrutiny. We are experts with Credit processing termination TMF MATCH LIST! Avidia Bank 42 Main Street Hudson, MA 01749; Chesapeake Bank, Kilmarnock, VA; Woodforest National Bank, Houston, TX. eMerchantBroker provides competitive pricing for their TMF/MATCH payment processing services, allowing small business owners to save money on payment processing fees. The MATCH list keeps track of merchants deemed to pose an unacceptable level of risk. Required fields are marked *, Comments must contain details about your experience. They may also decide to accept a merchant under certain restrictions. And being placed on it can be a merchants worst nightmare. Also, MasterCard can place you on the MATCH. To ensure that the rules for the list are consistently followed, Mastercard doesnt provide much monitoring for these decisions, believing that its in the best interests of all acquirers. Financial institutions rely on this list to control the level of risk they expose themselves to when providing services to merchants. The author and publisher shall in no event be held liable to any party for any direct, indirect, punitive, special, incidental or other consequential damages arising directly or indirectly from any use of this material, which is provided as is, and without warranties. You can help support this website by visiting an advertiser below. In most cases, merchants are on the list for at least five years. Each merchant on the MATCH list is given a reason code that outlines their inclusion there: It is clear why the reason codes would cause banks to have problems. Also required are the following: Time is ultimately the only surefire way to resolve this. We understand the difficulty in trying to obtain a high risk, match list merchant account. Disclaimer: Merchant Maverick aims to provide accurate and up-to-date information to assist you in your research. With a MATCH List/TMF Merchant Account from BankCard USA, you can process credit, debit, electronic checks and mobile payments at a rate that doesn't eat your profits. What is the MATCH list Mastercard? Payment service providers, such as Stripe and Square, have become an increasingly popular payment processing solution due to their simplicity and speed with which they allow you to being accepting payments. See Full Review . 12: PCI Data Security Standard Noncompliance. Get Started Today If you are having difficulty obtaining a merchant account, eChecks are an excellent payment option to consider. There are only three ways to get off the MATCH list. The rating of this company or service is based on the authors expert opinion and analysis of the product, and assessed and seconded by another subject matter expert on staff before publication. Being on the MATCH list can potentially result in you losing any active, legitimate merchant accounts you presently have, and it will make it impossible for you to open any new ones. By partnering with a provider specializing in high-risk, you may be able to obtain a TMF merchant account. Flagged as a Questionable Merchant under Mastercards Questionable Merchant Audit Program. It can be very difficult to get off the MATCH/TMF database. Its easy to avoid an unnecessary Square account deactivation and possibility of being added to MATCH/TMF simply by partnering with a traditional payment processor that reviews your application and underwrites your account before issuing their services. Phillip has consulted businesses of all sizes from mom-and-pop shops processing $10K per month to enterprise level organizations processing in excess of $300MM annually. Host is a good option for merchants who may have been placed on the TMF list in the past but are currently operating in traditionally standard-risk industries. So the lesson here is that its best to avoid getting on the MATCH list in the first place. PaymentCloud can help almost any business get approved for payment processing. MATCH-listed merchants may need to improve their business models to offset greater processing costs if they want to survive the term. Cryptocurrency proponents will tell you that one of the main arguments in its favor is that users cant easily be censored by putting them on a centralized blocklist. In most cases, TMF merchants wont even know if they are on the list. He has also published critical reviews about most merchant services providers currently in operation. MATCH List/TMF Merchant Accounts - BankCard USA Below, learn exactly what the MATCH list is, how to know if youre on it, how it affects merchants, and how to get off of it. Theres no convenient portal or formal process for checking if youre on the MATCH list. For card-not-present merchants, the credentials must be submitted electronically. The most crucial piece of information youll need to remove your name from the list is a letter or certificate of validation from a forensic examiner certified by Mastercard. (SRP, Rule 11.2.6), Accidentally been added to the list (SRP, Rule 11.4), Have since become compliant after being added to the list due to PCI non-compliance (SRP, Rule 11.4), Business address (including the name of the country), Information on the business owner ( country of residence, first and last name). Host Merchant Services is a Newark, Delaware-based merchant account provider that is able to provide merchant accounts for previously terminated merchants. All Rights Reserved. If you were unintentionally added to it, you must get in touch with the acquiring bank that placed you on the list. If you are a business owner selling TMF/MATCH products, you know the challenges of finding a reliable payment processing solution. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Copyright CardPaymentOptions.com, Inc. (Digital Fingerprint: 0d38c6720f0d78a701b74d58653af608). A merchant that thinks their business was placed on the MATCH list by mistake should call or email a company representative to make their case. eMerchantBrokers cost-effective payment processing solutions, coupled with their exceptional customer support, make them the ideal choice for small business owners in need of TMF/MATCH payment processing services. The MATCH list, formerly known as the Terminated Merchant File (TMF), is a sort of blacklist that financial institutions often check before extending services to merchants. These revenues in no way influence our ratings or reviews. This means that businesses selling TMF/MATCH products can get a payment processing solution that fits their needs and ensures smooth transactions. ##### Add terminated merchant Interchange fees are set by Visa, Mastercard, Discover and other card brands. Enjoy card processing deals as low as 2.49% per transaction + monthly . If the examiner deems that youre compliant, you will be given a letter of validation to support your claim. PaymentCloud has an excellent track record for both service quality and account approvals. As long as your business has a monthly processing volume of at least $50,000 per month, we can help you get approved for a credit card processing merchant account. MATCH was created by Mastercard to help banks, lenders, and payment processors reduce risk. Its absolutely possible to have never heard of the Mastercard MATCH list until youve been placed on it. The likelihood of having your business MATCHED is high for merchants who consistently exceed the authorized chargeback thresholds. Remaining compliant with standards and regulations. Getting added to the Terminated Merchant File (TMF), also known as the MasterCard Alert To Control High-risk Merchants (MATCH) list, can seem like a death sentence for any business. List for violation of brand standards. If a high-risk processor cant help you, a lawyer might be able to; just be aware of their limitation. MATCH List FAQs - How To Get Off MATCH List Have been added to the MATCH list over five years ago. PaymentCloud understands that every business is different and has unique payment processing needs. Merchant Mavericks ratings are editorial in nature, and are not aggregated from user reviews. As a merchant, being added to a MATCH list might haunt your business for years. Youll be classified as a high-risk merchant, and many establishments wont work with you. Durango has several advantages for high risk merchants, including support for multiple payment methods. There are no contracts and no cancellation fees to worry about too, making it a firm favourite with small business owners. The List is referential and payment processors review it before the final decision. Quite simply, the MATCH (Member Alert to Control High Risk Merchants) record compiles information on companies and their owners. Start your application. Often, these accounts come with high fees. To recover revenue and prevent chargeback fraud, merchants should educate themselves about the causes of chargebacks, improve customer experience, and implement other critical business processes to prevent chargebacks. Usually, you may submit a payment request to the payor and have them pay by pressing a single button. If youve been added by mistake or due to PCI non-compliance, remember that you may be able to get off the list. If not, you can still accept payments through processors focusing on high-risk merchant accounts. In most cases, a merchant wont even know they are on the list until they can no longer process credit card payments. Later in this article, well look at what you can do if you believe youve accidentally been placed on the MATCH list. PaymentCloud specializes in difficult-to-place merchant accounts for credit card processing. The name is an acronym for: Merchants wind up on the MATCH list for a variety of reasons, including: Each merchant on the list receives a numerical code that indicates the reason for them being on it. However, this doesnt have to mark the end of your business. If you find yourself on this list, here are your options: If the first two options dont apply to you, you will have to wait five years to be removed. Its crucial to select a credit card processor with a solid reputation, particularly for businesses in the TMF/MATCH industry. Best Credit Card Processors for Online Marketplaces, Best Credit Card Processing for WordPress Websites, Cayan Merchant Services Review & Complaints | 2023, SpotOn Transact Credit Card Processing 2023: Reviews & Complaints, Charging Customers to Use Their Credit Card is a Bad Idea, Here's Why, 5 Reasons Your Merchant Account Application Was Denied, High-Risk Credit Card Processing Explained, Ingredients Banned by Credit Card Processors: Compliance Guide, 6 Ways Hackers Can Steal Your Customers Credit Card Data. This list is accessible through Mastercard Connect, 7 days a week, 24 hours a day. Consequently, if a mistake is made, it will be fixed. No, its not the end of the world if you land on the MATCH list, but its pretty bad. Essentially, the MATCH list is used by processors to avoid merchants who have been flagged as especially high risk. Please do not use ALL CAPS. see Phillips merchant account picks here. HMS has a team of experienced professionals who specialize in TMF/MATCH payment processing. Discover BusinessLoans.com's lender network offering up to $3M in funding. To avoid being placed on the Mastercard MATCH list, merchants should comply with their merchant agreements standards and regulations. Our Top Pick To Get Your Merchant Account Approved. The Terminated Merchant File (TMF) is a database of merchants that financial institutions have marked as high-risk. This ensures that businesses can accept credit card payments from customers buying TMF/MATCH products without any issues. Can You Still Get A Merchant Account If Youre On The MATCH List? What Is the Terminated Merchant File (TMF)? Of course, the downside of cryptocurrency is that its subject to more volatility than national currencies. TMF Match List Everything You Need to Know About the TMF Match List Perhaps one of the lists that all online merchants never want to be a part of is the MATCH (Merchant Alert To Control High Risk) list or popularly known as the Terminated Merchant File (TMF) list. Financial institutions consider some reasons for inclusion on the MATCH list to be worse than others. MATCH List. 01: Account Data Compromise. TMF Merchant Account | TMF 2nd Chance Merchant Account - QuadraPay Although most merchants wont find this the best option, you can at least be confident that you wont be on the MATCH list indefinitely. Most major mobile wallets, such as Apple Pay, Google Pay, Samsung Pay, Squares Cash App, and Venmo, can do P2P payments.
