Are you a Merchant Placed On The Match List – What To Do? | TMF Merchant Account

Feb 11, 2016

“Out of your vulnerabilities will come your strength.” –  S. Freud

The worst thing that could happen to a merchant is being placed on the MATCH list. MATCH stands for Member Alert to Control High-Risk Merchants. It is regarded as a national database related to merchants and their principal owners whose accounts have been terminated for this or that reason. The MATCH system is also known as the TMF or Terminated Merchant File.

MATCH Or TMF – How Does It Work?

MATCH is called to enable acquirers to identify merchants who are high risk and decide if they wish to enter into a merchant agreement with these merchants or not.  It also helps them make decisions concerning transactions and specific conditions.

Credit card associations keep your information file, which contains data reported by acquiring banks. After being placed on the MATCH list, merchants get their accounts terminated. All other acquirers required to use the system get informed about the fact that something is wrong with your business.

While searching the database, the MATCH system tries to find possible matches between the information available in the inquiry and the information reported and saved in the last 5 years, and other inquiries made within the last 120-day period.

Unfortunately, blacklisted merchants will have major difficulties finding a new payment processor. Thus, MATCH-listed merchants should look for the most reputable processors in the field. With EMB, you can obtain your TMF merchant account with little hassle. The paperwork required is simple and the application process is quick. EMB, the # 1 high-risk payment processor in the US, will let you know if you’re accepted or not in as little as 48 hours.

What To Do When You’re MATCH Listed?

When your merchant account is terminated:

  1. Ask your payment processor if you’re MATCH-listed or not. If yes, find out the reason.
  2. Find those credit card service providers that specialize in the high-risk industry and offshore payment processing. Contact them.
  3. Tell them you’re on the MATCH list and provide all the details and documents required by them.
  4. Your prospective processor will need to know the reason you’re placed on the MATCH list and your 6 latest processing statements. If your monthly volume is less than $100.000, you won’t get approval.
  5. After getting approved, you should fill out the application forms and provide additional documentation.
  6. You’ll be asked to apply some changes in your business practices so to better the situation your business is in.
  7. Now, you are already in the underwriting process, which requires lots of patience.
  8. During the underwriting process, the payment processor will be too cautious with your business. The processor will ask you to submit certain documentation from time to time.
  9. Al last, your account is established. The processor will keep your account, transactions, and invoices under review. You should always act in accordance with the terms of your merchant agreement.

 

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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