The MATCH list, also called the Terminated Merchant File (TMF), is a database that identifies merchants who can no longer use payment processing. When businesses or individuals are placed on this list, it notifies other payment processors that some undesirable business practices have occurred. Thus, it can be challenging, but not impossible, for a business or individual to regain their payment processing privileges from another merchant processing company or bank once they make it onto the list.
If you have been added to the MATCH list, the attorneys at Sigal Law Group can help. Contact our offices today for help.
MATCH and TMF Laws
There are a number of reasons why a business or individual might end up on the MATCH list or TMF. Once the name is added, it will be assigned a reason code that explains why they are on it, including:
· 01: Account Data compromise
· 02: Common Point of Purchase
· 03: Laundering
· 04: Excessive Chargebacks
· 05: Excessive Fraud
· 06: Unused
· 07: Fraud Conviction
· 08: Mastercard Questionable Merchant Audit Program
· 09: Bankruptcy/ Liquidation/Insolvency
· 10: Violation of Standards
· 11: Merchant Collusion
· 12: PCI-DSS Non-compliance
· 13: Illegal Transactions
· 14: Identity Theft
A lot of the time, the reason for placing the business or individual on this list is out of their control. For instance, when the business or individual's own account is breached, or their identity is stolen, they can be placed on the list under 01, 02, and 14.
MATCH and TMF Issues
Once you are placed on the MATCH list, or TMF, your merchant processing account will be terminated, which labels you as a high-risk business or individual. This label can prevent you from being able to do business with other financial institutions. This means you won't be able to process credit card payments, which can seriously impact your ability to do business effectively.
If you have been placed on the MATCH list, you must do everything in your power to get off of it as soon as possible. The highly competent and experienced attorneys at Sigal Law Group can help. Contact our office today.
