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.
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.
What About TMF?
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 TMF 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:
- The acquirer connects Mastercard on the retailer’s behalf and five it to that the initial addition was created in error.
- 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.
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.
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.