How to Avoid MATCH Listing for Business
Also known as the terminated merchant file, the MATCH list was established for the purpose of blacklisting companies that have violated the agreements on credit card processing as well as closed accounts that have a negative balance. MATCH list is similar to Chexsystems services. These systems are used when banks and lending institutions open a savings account for clients. Unfortunately, the arrival of TMF has had a huge impact on actual company owners as well as associates and spouses. This always makes it difficult to come up with credit cards. Need Help? Call 972.800.6670
Match List Alternatives
One of the scariest days is when you find that the business you have created and the regular income you enjoy from your online orders just stop! You first think it is a tech problem, and then maybe a bank problem but at some point, you find out you have been added to the MATCH LIST and have been kicked off the PRIME MERCHANT ACCOUNT status and all online income has stopped!!! AHHHHH, you will rush to figure out how to fix it and waste time and finally realize you need:
SUB-PRIME CREDIT CARD PROCESSING
Sub-Prime Credit Card processing is designed to get you back up and running within 24-72 hours depending on underwriting. You will pay slightly higher fees but your business will be back on track. NEED HELP call 972-800-6670
- Credit Card Processing for Stem Cells
- Online merchant accounts for advertising companies
- E-commerce Accounts for SEO
- Pay Day Loan Credit Card Processing
- Credit Card Processing for supplement sales
A MATCH list is not automatically a death sentence for firms that have their principals listed. Typically, many networks, as well as processors, avoid operating with the registered people. Often, this is because the bank in question may send a notification to the ISO, which is the processor in question. The notification includes information that the account in question has been rejected. Because there are options for individuals who are listed, these options can be implemented, but they are accessible through offshore accounts. Other options include the employment of party processors who involve high-risk rates. Staying away from the MATCH list involves decreasing the chances of receiving excessive chargebacks as well as making sure that your account closes with a positive balance.
Terminated Merchant File (TMF)
Terminated Merchant File is abbreviated as TMF. This is a system that was designated with a predated MATCH list. It was utilized in the tracking of blacklisted firms. TMF was replaced with a detailed MATCH. Processors and acquirers may occasionally terminate contracts with particular merchants. The merchants as well as their principals land in a Member Alert to Control High- Risk Merchants. Other people refer to the list as the TMF while other people call it Combined Terminated Merchant File abbreviated as (CTMF).
MATCH List Maintenance
A MasterCard International program maintains MATCH list program. The USA Visa uses it. The aim of this program is to identify merchants as well as acquirers who are no longer part of the banking systems for specific reasons. Because risk management includes the merchant’s identity as well as the owner’s identity, the reports compiled by MATCH have a primary role to play in matching up the merchants. Many individuals have the wrong impression of a MATCH designation. Also, many do not have the right response to a possible match in the submission of a merchant application.
What Happens When Matched
When a merchant or principal is set up with a MATCH for specific reasons, the rules of the card association have no prohibition in signing up merchants as well as administrators on the list of MATCH. Before the matching of the list, a list of queries must be presented to the MATCH prior to entering agreements with the prospective merchants. Depending on the response, there could be a possible MATCH that calls for the acquirer to verify that the specific merchant is identified as the same merchant who is involved in the inquiry. The generated contact list must also bear the merchant’s name regardless of the situation. This determines the reasons for adding the merchant to the file. There are many occurrences of common names. This is especially true when it comes to the last names.
Also, addresses found in large buildings might generate several MATCH listings from across the world. This may not be from the same merchant or procurer. From the listing, the acquirer should be able to arrive at a decision of acceptance. This is based on an extensive investigation. The MATCH information should be used as a tool for informational purposes through the process of decision making. From the process of listing, acquirers should contact listing members with the aim of determining the reasons for being added to the MATCH. Generally, these acquirers would want to establish the reasons for including these merchants on the list of MATCH. It is also vital for acquirers to determine if the center has suffered a loss in the process of the MATCH. The primary processor of the MATCH should offer all details regarding the reasons for terminating the merchant. This is because often, merchants will be MATCHED upon the violation of the terms and conditions of the agreement. Merchants can also be MATCHED when there are chargebacks. This usually means that the processor may not have suffered loss.
Although the processor may have caused the loss, they may admit that the merchant is not all that bad. Acquirers should ensure that the acceptance decision solely lies on further investigations. Also, the MATCH data should be utilized while making decisions. It is vital to note that there is no rule stating that acquirers should not process the MATCH for merchants. This is, however, to be done only when there are no risks involved. To be safe, it is important to consider reviewing the available facts. A good number of ISOs would not be bothered by contacting the initial processor like the rules state. This is, however, necessary because the merchant should be rightfully removed from the stated MATCH. Initially, in most instances, bank consultants from Bankcard would request for merchant client’s names to be deleted from the MATCH. It turned out that the ISOs accepted the deleted persons. The stated scenarios might have been avoided had the ISOs come up with the same decisions based on the provided information concerning the merchants. This information is usually generated from the initial processors.
Failure to Comply
After the MATCH processing, members that fail to comply normally receive a huge liability that comes with losses incurred by a different member. As a result of failing to meet the requirements, a hefty penalty is incurred. Also, members responsible for providing processing services are not held accountable for the incurred losses.
MATCH Listing Requirements
MATCH listing requirements include the addition of terminated merchants by acquirers. This acquisition occurs in the file, and it should be done as soon as the close of business on the following day. This is done to terminate the stated agreement. Here are the reasons for listing the merchants during termination:
Terminated for credit card as well as debit fraud conviction
· More than the average deposits on counterfeit transactions
· More than the average deposit for unauthorized transactions. This is through the cardholders
· Transaction deposits for sales, products as well as services that may have been generated by a different merchant
· More than the average chargebacks because of the merchant’s business activities as well as procedures
· If the merchant is suspected of conducting any fraudulent activity using the Visa USA or better yet, the MasterCard
· If the acquirer identifies the particular merchant as an individual with many fraudulent activities because of an internal audit or investigation.
· If the acquirer finds out that the violations of the particular merchant and the agreement can contribute to extensive exposure
Reasons for Being on the Matching List
One of the reasons for being on the MATCH list boils down to excessive chargebacks. It is essential to note that when merchants exceed the average accepted amount of chargeback thresholds, there will be a business MATCH. This means that the merchants will land at frozen back accounts. This will eventually lead to a merchant agreement that has been canceled. Other several conditions can result in the MATCHING of a merchant. Here are the reasons:
· Account Data Compromise – when the account information is stolen from the original cardholder and shared with other merchants.
· Same Purchasing Point – in the event that the card has been stolen and used for purchase in the same point of purchase
· Laundering – when the merchant’s transactions have been processed, but there is no bona fide cardholder
· Chargebacks- when the merchant breaches the predetermined chargeback thresholds.
· Excessive Fraud – when it is determined that the merchant has breached the agreement through excessive fraud. This is usually fraud to sales and the threshold of dollar volume
· A conviction for Fraud – when one of the merchants has been convicted of fraud.
· Questionable MasterCard – when during an audit, the merchant is found in possession of a controversial MasterCard. This is according to the MasterCard guidelines.
· Bankruptcy – when the merchant cannot handle the entire financial obligations
· Violation of Standards – when the merchant is in violation of not only one but more regulations according to the MasterCard
· Merchant Collusion – when the merchant has participated in many fraudulent activities
· Illegal Transactions –when the merchant is caught handling illegal transactions
· Non-Compliance – if the merchant is not compliant with the requirements of PCI-DSS
· Identity Theft – in the event that the merchantis caught in identity theft
The MATCH Duration
As a processor or merchant for MasterCard, it is essential to note that the success of the system entirely depends on the client. This success is firmly assured when the individual understands the rules and the application of those standards to the business. The MasterCard standards have a transformation from time to time. That is why the management always tries to maintain an updated website with sufficient information on the details that a client may need. If at any point there is a discrepancy between the stated documents and the information found on the website, the rules for being MATCHED will apply. Although the rules often provide a way forward for most businesses, it is critical to note that MATCHING takes five years. For such reasons, it is vital to take note of the agreements noted down by the merchant as well as the processor. It is also essential to understand the circumstances under which the agreements were stated.
Getting Off the List call
There are instances when a business has been wrongfully added to the MATCH list. If as the owner of the enterprise you realize that this has occurred, consider collaborating with the acquirer. This is the individual who added the name of the business to the file. It is critical to collaborate with the acquirer because only the acquirer has the authority to make a deletion request to the management. The counsel of the management may be unfamiliar with the industry of credit care, MasterCard or Visa. In such instances, the business owner can consider consulting with a company that handles MATCH files.
In other scenarios, the acquirer in charge of listing may realize that the listing was done in error. The acquirer must request for the file that was used for listing immediately the error has been noticed. Some of the errors may include a wrong business or principal name. Another error can be inactivity. An error in this scenario does not contain unresolved disputes in business or other violations. If this is not you, your business is dead and you need a solution call 972-800-6670
To request for removal or better yet change, the bank that is in charge of listing provides a submission of a request to MasterCard International. This is designated to receive a review from the head office. An explanation from the merchant must accompany the request. With that explanation, the bank gets to understand the story behind the listing. Depending on the hearing, MasterCard determines the right to receive a clearance or not. Upon deletion, the listing bank must offer a clear explanation regarding the termination.
During the five years of being on the MATCH list, merchants are not barred from processing their credit card transactions. It means that the business is in a position to receive an agreement from the acquirer. The agreement should allow the acquirer to accept the associated risks including offshore payments by the processor as well as domestic providers. On the other hand, chargebacks can play a significant role in assisting managers to manage their new status. Normally, the status is high risk with the need to insulate merchants from international as well as domestic chargebacks.
Getting placed on a MATCH list is one of the biggest challenges a merchant can face. It is a huge profit hindrance that requires instant help. Supported by the fact that most consumers depend on a credit card for shopping, being in a position to access transactions is a key selling point. With the market filled with companies that deal in such businesses, it is vital to consider selecting one for MATCH listing solutions.
Merchant Processing for Supplements business
The client was processing between $180,000 and $240,000 a month and one day realized that her orders just stopped!
Freaking out at the technical department, and then the bank come to find out she had been added to the blacklist (MATCH LIST)
It took her several days to figure it out and then several more days to fid a solution, now she is back up and running.
LOST REVENUE FOR NOT KNOW ABOUT THE MATCH LIST: $87,000
LOST PROFIT for not knowing who to call? $45,000
SO here is todays $45,000 lesson. If you have an online business or use online processing you need to know about the MATCH LIST and you can get put on it any time WITH OUT NOTICE .