Basic Tips for Merchants Interested in TMF merchant accounts

Jul 24, 2015

Every few days, several businesses report to us that they have been added to the Terminated Merchant File (TMF) or what is commonly known as the MATCH (Member Alert To Control High Risk) List. It can be a very trying period especially if you have never even heard about TMF and how it works. Many times you don’t even know what to do or how to react.

Unfortunately, most businesses only learn that they have been added to the TMF or MATCH list during their application for a new account with a different financial service provider. The application will be denied and that’s when you’ll discover that you have been TMF’ed or MATCHed. Hopefully, you’re reading this before you receive the bad news. However, even if you’ve already been added to the MATCH or TMF list, there are still a number of things you can do.

Basically, MATCH is a database created and managed by MasterCard. The database contains information about million of businesses and the business owners whose credit cards have been terminated by MasterCard.

MATCH is often used by acquiring/merchant processing banks when screening applicants to see whether the merchant has been added to the list before. The banks themselves also have the powers to add you to the MATCH list.

Unfortunately, it appears MasterCard has granted the processors too much power when adding merchants to the MATCH list. According to a statement on MasterCard’s website, the card company says that it takes completely no responsibility for the information reported or listed in MATCH. Therefore, a processing bank can add you to the list for whatever reasons and MasterCard won’t even bother.

One reason every merchant strives to avoid being on the MATCH list is because once you’re on the list, it becomes extremely challenging to open a new merchants account with any bank. Moreover, according to MasterCard regulations, once added to MATCH, you will remain on the list for at least five years. This can be a huge blow for merchants who often need new accounts to cater for any new lines of products or services.

The good news is that you can still get a merchant account even if you’re on the MATCH list. Of course, the grounds for your appearance on the TMF/MATCH list have to be reasonable. You can start by contacting EMB, who can help you open a TMF Merchant account.

Let us help you get a high risk merchant account today!

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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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