HIGH RISK MERCHANT ACCOUNT SPECIALISTS

26 Nov

By ipaytotal

Category: best high risk merchant account provider, best high risk merchant services, E-Commerce, Fraud Prevention, high risk merchant account provider, high risk merchant account solutions, High Risk Merchant Accounts, online payments

Would merchants be able to SURVIVE LIFE AFTER THE MATCH LIST? Comments Off

Would merchants be able to SURVIVE LIFE AFTER THE MATCH LIST?

If you are having a look at this article, then it’s highly possible you’ve found yourself on to the MATCH list. You could be figuring out what this listing is being utilized for and what the consequences are. Most of all, you’re likely hoping to find a route for your high risk merchant account to survive besides this disappointing realization.


What’s the MATCH?

Quite easily, the MATCH (Member Alert to Control High-Risk Merchants) record was found by Mastercard as a way of compiling information on organizations and their promoters as to if their merchant accounts have been canceled. The list is utilized by acquiring banks to help screen applicants and figuring if businesses ought to receive credit card payment processing privileges. Merchants who have been added to the MATCH list are considered as high risk business ventures and are possible to encounter challenges when applying for new merchant accounts.


Regardless of its admirable efforts, there are no checks and balances guaranteeing the precision of the database information. MasterCard being unsuccessful to confirm any of the information this has been added to the list. Therefore, a merchant could have been erroneously set on the list and nobody would be the wiser until the victim merchant attempted to get removed.  The issue is that a merchant must be removed by the acquiring bank that placed them on the list in the first place. It can turn into a dilemma that often doesn’t result in a positive outcome for merchants.


How MATCH is used

Banks use MATCH to check whether it merits the risk to open a merchant account for a business.  If during underwriting an acquiring bank discovers that candidate is on the list, the financial institution is allowed to contact the bank that set the merchant there. For a few merchants, they are astonished when they learn they are blacklisted. Most don’t discover until the point when they to apply with another credit card processor. Also, acquiring banks can ask for subtleties for what valid reason the merchant’s account was ended.


Eventually, a bank or processor can use that information to accept or decline the application or give conditional approval with restrictions, which can go from caps on processing volumes to lower rolling reserves, to prevent a similar problem happening in the future.


Reasons merchants get placed on the MATCH list

The explanations behind being added to the MATCH database can extend from extreme chargebacks to money laundering.


The MATCH database incorporates several codes with depictions that clarify the reasons a merchant can be put on the list. They are as follows:
(01)  Account Data Compromise: Whether unknowingly or accidentally, a merchant facilitated the unauthorized use or disclosure of account information.
(02)  Common Point of Purchase (CPP): The unapproved disclosure or utilization of account information was intentionally utilized by the merchant.
(03)  Laundering: A merchant engaged in laundering, which implies a merchant gave its acquirer purchase records that were invalid transactions for sales of items or services between the business and the individual who holds the card.
(04)  Excessive Chargebacks: A merchant, who was accounted for by a MasterCard acquiring bank, had a chargeback ratio in one month that surpassed 1% of its MasterCard transaction and the sum was greater than $4,000. For American Express acquiring banks, a merchant surpassed the chargeback limits that have an outline in the credit card company’s terms and conditions.
(05)  Excessive Fraud: A merchant had fake or other types of fraudulent transactions that met or surpassed the minimum reporting standard, which implies the business’ dollar-volume ratio was 8% greater in a single month and the merchant had 10 or more fraudulent transactions that equaled $5,000 in one given month.
(06)  Reserved for Future Use
(07)  Fraud Conviction: A merchant’s principal owner or partner was convicted of criminal fraud.
(08) MasterCard Questionable Merchant Audit Program: A merchant matches the criteria laid out in the MasterCard Questionable Merchant Audit Program.
(09) Bankruptcy/Liquidation/Insolvency: A business is never again ready to meet their financial obligations.
(10)  Violation of Standards: A merchant violated at least one of the standards and procedures required when a payment card is used.
(11)  Merchant Collusion: A merchant engaged in an illegal conspiracy to commit fraud.
(12)  Payment Card Industry (PCI) Data Security Standard Non-Compliance: A merchant didn’t adhere to the prerequisites of the PCI Data Security Standard.
(13)  Illegal Transactions: A merchant participated in illegal transactions.
(14)  Identity Theft: The identity of the merchant or one of its principals was illegally assumed to enter into an unlawful merchant agreement.


What About Terminated Merchant File?

Terminated Merchant File (TMF) has been a profile, which predated the MATCH list, and has been utilized to track blacklisted companies. This item was displaced with the more comprehensive MATCH list.


Reasons  Terminated Merchant File Business Owners Have Been Added to the MATCH List

The most general cause of a retailer landing the MATCH list is its chargebacks. Merchants that crosses the chargeback thresholds will most possibly see their companies MATCHed. This means that they shall wind up with a frozen merchant account and at the end, a canceled merchant account. As per the Mastercard Security Rules and Techniques, when the acquirer has reason to think one of the earlier provided conditions has come to be, then the acquirer may include the retailer into the MATCH list.


All developments to the MATCH list are done by the acquirers that deal with the merchants. Mastercard estimated that “acquirers must behave reliably, considerate, and in good faith to obey according to the MATCH system requirements. Though, the listing is dependent on acquirer discretion and is full without checks and balances.


How Can High Risk Merchants Get Off The List?

Acquirers that are looking the MATCH list can get data that is saved and has been put up within the previous five years.


Any merchant included throughout that timespan will generate a MATCH list outcome. After five years, the retailer’s data will be taken out of the MATCH list – implying that no additional MATCH list entrances were generated during this time period. There is the slightest chance of MATCH list removal before the five-year minimum.

There are only two situations that would enable a MATCH list removal:

  1. The acquirer connects Mastercard on the retailer’s behalf and five it to that the initial addition was created in error.
  2. The merchant was included using MATCH list reason code 12 (PCI-DSS Non-compliance) but because it has become compliant.

High-risk merchants are not necessarily prohibited from processing credit card transactions during these five years, the business just must generate a payment processing agreement with an acquirer that is hungry to accept the added high risk.


Ipaytotal streamlines specifically in permitting high-risk merchant account applications, which implies that despite the added risks, we can take you to approve in as little as six hours. As professionals in the industry, we have set up 24+ acquiring banking relationships to become experts in getting high risk merchant accounts accepting online payments.


Begin using a chargeback protection program

Get approved by iPayToTal and utilize its chargeback protection program, which can reduce a merchant’s chargebacks by 25%.

The match list credit card processing program enables merchants to achieve the best rate of chargeback resolutions while being specifically engaged with the procedure on the grounds that CDRN(Cardholder Dispute Resolution Network (CDRN)) works with card issuers and banks. TMF businesses can’t stand to get burned by chargebacks again. By utilizing a mitigation program that effectively seeks after credit card disputes, companies secure themselves getting their TMF merchant accounts shut down.


How to get a TMF merchant account

Once blacklisted, it is as yet conceivable to get a TMF merchant account. iPayToTal offers TMF merchant accounts to organizations that can demonstrate they never again owe any money to their previous processors. Ideally, it would be extraordinary if TMF merchants indicated they had a recent, clean processing history since the MATCH event, just as a decent clarification regarding why ended up on the list and what actions they have made to shield them from getting blacklisted in the future.


Documents needed to get a TMF merchant account

To get a TMF merchant account, businesses must start by filling out iPayToTal’s simple online application. After submitting the application, merchants will need to share the following documents to underwriters:

A valid, government-issued ID, such as a state-issued driver’s license
A bank letter or a pre-printed voided check
3 months of the most recent bank statements
3 months of the most recent processing statements, if applicable
A SSN (Social Security Number) or EIN (Employer Identification Number)
A secure, fully-operational website with trusted privacy and refund policies
Chargeback ratios must be under 2%
Proof that no funds are owed to former processors


In spite of the fact that no approval is guaranteed, iPayToTal promises applicants a reputable, secure process. iPayToTal and its team of specialists are committed to helping clients work and prevail in their online endeavors. Apply today and get endorsed approved within 24 and 48 hours and begin processing credit card payments.


iPayToTal Has a Solution

Getting positioned on the MATCH list is a challenging obstacle and also a profit-hindrance. Provided the fact that a majority of likely clients do their shopping via credit card payments, being capable to process their transactions is important to running a successful business. Many times, the time wasted is the only real solution to figuring out yourself on the MATCH list. Merchants optimize profitability to overcome processing fees and must reduce risk to the best of their abilities.


If you apprehend the MATCH list placement (it has not placed yet, but it may), it’s necessary to concentrate on chargeback elimination and strategic representation. It’s imperative to maintain chargebacks in a low amount and confirm that your organization does not breach the networks’ chargeback thresholds.


Merchant Compliance Review

A significant number of chargebacks are caused by the retailer’s own lacunae and oversights These errors and the chargebacks are entirely stoppable. iPayToTal can help retailers to join our partners to applicate policies and minimize the risk of chargebacks to rectify these mistakes.

What to expect during underwriter review

Underwriters determine risk by seeing for any questionable practices that could end up financially burdening credit card processors. Eventually, they need to realize that merchants are working legal, responsible businesses with a stable business model, which won’t result in a high volume of credit card transaction disputes and chargebacks.


During the audit, underwriters see merchants’ credit scores, credit card processing history, bank statements, and their websites. In addition to being shut down by another processor previously, different factors that impact risk include:

  • Negative account balances
  • Excessive chargeback ratios
  • A history of late or missed payments

The assured method to get a TMF merchant account is to stop any suspicious activity,  put some money in the bank, fulfill outstanding bills and obligations, and get a principal in the business with the best credit history.


Chargeback Alerts

In some situations, there’s minimal time for effective chargeback accounting. Merchants looking to quickly and efficiently reduce their chargeback-to-transaction ratio due to the inherent danger of becoming MATCH listed should perceive registering for chargeback alerts.

Getting the assistance You Need

As one of the reasons of MATCH list positioning, chargebacks can be a pricey issue for retailers. Not only do they impact in earnings reduction, but chargebacks can also obstruct a company’s ability to process credit card transactions and finally jeopardize longevity.


Besides, if you’ve found yourself in a circumstance where you are paying high rates for credit card processing, or a payment processor has suspended your high risk merchant account and are keeping funds outright, get in contact with us about high risk payment processing remedy.

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