This ensures that businesses can accept credit card payments from customers buying TMF/MATCH products without any issues. How To Survive The MATCH List: MATCH Merchant Guide 2023 They do this to assess and control the risk associated with credit card processing. MATCH stands for Member Alert to Control High-Risk and was produced and is handled by MasterCard. Be sure to check out our in-depth review of EMB. Data was stolen from the merchants system and used to make fraudulent purchases. PaymentCloud has relationships with several banks that are willing to work with high-risk merchants, including those selling TMF/MATCH products. 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. The merchant has been reported for violating rules or card use procedures. Otherwise, you will need to wait five years for your information to be purged from the list. High-risk payment processors specialize in finding merchant accounts for businesses that are hard to place. Ready for the ultimate credit card processing experience? National Processing, Inc is a registered ISO with the following banks: Referral Partner Application Formerly referred to as the Terminated Merchant File (TMF). Financial institutions consider some reasons for inclusion on the MATCH list to be worse than others. Typically, youll still have to work through the acquirer who put you on the list, but this is one instance where you can contact Mastercard directly if your former acquirer is unwilling to help. He started this project as a blog to expose merchant services providers that engage in predatory business practices, such as deceptive marketing, misleading pricing, and high-pressure sales tactics. Depending on why you were put on the MATCH list, you might be able to get off it early, but in most cases, youll have to wait five years and age off the list. With their expertise in high-risk merchant accounts and customized payment solutions, they provide businesses with the tools they need to accept credit card payments from customers buying TMF/MATCH products. All feedback, positive or negative, helps us to improve the way we help small businesses. Bonsai Point of Sale Youll also need the following: Its possible to get a merchant account if youre on the MATCH list, but it may not be easy. The merchant exceeded the fraud-to-sales ratio in a calendar month. Processing eCheck payments have various advantages, particularly for businesses that use subscription or recurring payments. If a merchants account is terminated for any reasons listed above, Mastercard acquirers are required to put that merchant on the MATCH list. Best Credit Card Processors for Online Marketplaces 10 Best Online Credit Card Processing Companies 2023 - Merchant Maverick Be prepared to support your claim with evidence. Fill out this form! The merchant processed illegal transactions. Unfortunately, many dont even realize theyre on the list until its too late and their merchant account applications are declined. Therefore, a merchant who thinks their acquirer treated them unfairly has no option but to appeal that decision to Mastercard. 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. MATCH List Merchant Accounts - FinTech Merchant Accounts The MATCH list is used by acquiring banks to screen potential applicants (particularly to see if that applicant has been terminated in the past). Most processors will be able to tell you on your initial call if they can serve your industry. However, its crucial to do your research and evaluate each option based on the specific needs and priorities of your business. Any and all use of trade names and/or marks are for identification purposes only and shall not be construed as a claim of affiliation, or otherwise, with CardPaymentOptions.com, Inc. ("CPO") in any form. PaymentCloud can help almost any business get approved for payment processing. In order to prove that you are compliant, you will need to first contact a Mastercard-certified forensic examiner. MATCH is the rebranded version of an older, more aptly named list, the Terminated Merchant File (TMF). This also makes it difficult for merchants to dispute their addition to the list. Merchant ServicesPayment ProcessingPoint Of Sale Systems, Payment Processing Merchants and businesses that wind up on Terminated Merchant Files or Match lists don't all deserve to be there. You can consider our review on this website, by simply searching for the processor in the search bar at the top of this page. This will go a long way toward stabilizing your reputation with cardholders and banks, and help repair your relationship with payment processors.. They may also decide to accept a merchant under certain restrictions. MATCH List and Terminated Merchant Files | Global Legal Law Firm Each month, MATCH automatically purges information that has been in the system for five years. 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. Host Merchant Services has received only positive feedback on public forums, with most reviewers singling out the companys customer service for praise. The Mastercard MATCH list is essentially just a newer, rebranded version of the TMF, thus many use these terms interchangeably. When selecting a credit card processor for a TMF/MATCH business in the USA, there are several factors to consider. They provide customized payment solutions that cater to the specific requirements of each business. If youre already on the MATCH list, there are steps you can take to get off of it. However, this doesnt have to mark the end of your business. The best way to find this out is to contact the company that terminated your merchant account to ask them if they put your name on the list, as well as how you can rectify the problem. 05: Excessive Fraud. Typically used by credit card processing firms to ward off merchant accounts with problematic histories, today the TMF is commonly used by credit card companies such as MasterCard International, Visa USA and most recently, American Express. Discover BusinessLoans.com's lender network offering up to $3M in funding, no minimum credit score required. In addition to Mastercard itself, acquiring banks can add/remove merchants to/from the MATCH database when they have the justification to do so. It is not intended as legal or financial advice. But that speed sometimes comes at a high cost. Accessed April 28, 2022. 01: Account Data Compromise. Note this suggestion is limited to P2P payments. 09: Bankruptcy/Liquidation/Insolvency. TMF Merchant Account, Match List Credit Card Processing Unfortunately, its not easy or quick to get off the MATCH list once youre on it. Some have expertise in removing people from the MATCH list and can likely tell you immediately what your chances are, thanks to that experience. It can be very difficult to get off the MATCH/TMF database. Look for a processor with transparent pricing and competitive rates, particularly with regard to chargebacks, which can be costly for TMF/MATCH businesses. Host Merchant Services is a Newark, Delaware-based merchant account provider that is able to provide merchant accounts for previously terminated merchants. Be aware, however, that merchants on the MATCH list are particularly hard to place, even for high-risk processors. 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. Soar Payments. eMerchantBroker.com offers custom pricing for each merchant and maintains a low complaint rate relative to its size and merchant portfolio. Best Credit Card Processing Companies of 2023 | U.S. News To avoid being placed on the Mastercard MATCH list, merchants should comply with their merchant agreements standards and regulations. Acquiring banks may reference the MATCH List to screen merchant applicants and determine the risk they pose prior to providing a merchant account. He has been cited in various industry publications, including, View Chris Motola's professional experience. The Terminated Merchant File (TMF) is a database of merchants that financial institutions have marked as high-risk. When that happens, its too late to escape being added to the list; your only option is to work toward removing yourself from it. P2P payments are supported by the majority of popular mobile wallets, including Apple Pay, Venmo, Samsung Pay, Google Pay, and Squares Cash App. The inability to handle credit card payments is much more problematic than losing the ability to register new merchant accounts. Merchant Accounts for TMF and MATCH List List for violation of brand standards. The vendors that appear on this list were chosen by subject matter experts on the basis of product quality, wide usage and availability, and positive reputation. Removing Your Name If Listed Accidentally. She pushes the boundaries beyond her core responsibilities and enjoys making complex concepts understandable to diverse audiences. Monica Eaton-Cardone, COO of Chargebacks911 says, The simplest solution to ensure you dont end up on the MATCH list is to immediately address whatever concerns led the acquiring bank to add your business to the list in the first place. To be removed from Mastercard's MATCH list, a merchant or business owner must follow the credit card giant's standard rules and procedures. Here are two payment options that high-risk merchants might accept in place of credit cards. Your email address will not be published. Unfortunately, merchants arent notified about being put on the list. The MATCH (Member Alert to Control High Risk Merchants) record was developed by Mastercard as a way of compiling info on business and their owners regarding if their merchant accounts have been terminated. This is crucial for small business owners who sell TMF/MATCH products, as these products are often targeted by fraudsters.
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