Terminated Merchants Can Still Get High Risk Processing Services

Nov 02, 2015

If your business is on the terminated merchant file (TMF) list or MATCH list, it will be nearly impossible to find a credible payment processor to handle your account. The MATCH list is managed by MasterCard and lists businesses and owners whose credit card processing privileges have been terminated. Why is this list so crucial? When a merchant applies for an account, acquiring banks reference the list to see if they have been terminated in the past. Unfortunately once a merchant is placed on the list, it is cumbersome to get off it.

How Merchants Get On the List

When a merchant is placed on the list, the merchant’s name, principal, and business partners are all recorded on the MATCH list. There are a number of disqualifying acts that will place merchants on the TMF list.

Disqualifying acts include:

  • Excessive chargebacks caused by business practices or procedures
  • Evidence of money “laundering”
  • Excessive deposits for transactions without cardholders authorization
  • A conviction for credit or debit card fraud in any federal, state or county court
  • Evidence of counterfeit activities
  • Sufficient evidence that merchant is engaging in fraudulent activities.

Of course banks and card processors do make mistakes. Sometimes acquiring banks don’t verify or confirm information placed on the merchant list. If your business did not commit any of these acts, then you should fight placement on the list. EMB believes that being on the TMF list does not mean your business is not legitimate. Our policy is simple and straightforward. As long as there are no unpaid balances owed to your previous processor, EMB will accept your merchant account.

Unlike traditional financial institutions, EMB doesn’t judge your business based on risk status or credit history. To retain an account, your business just needs to keep your chargeback rate below 3%. The application is simple and user friendly, and can be completed in the time it takes to drink a single cup of coffee. Legitimate businesses shouldn’t be punished forever for showing up on the TMF list. eMerchantBroker can get you on the road to recovery with secure payment gateways. Contact us to set up your TMF merchant account, so you can get back to running the business that you love.

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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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