Losing the ability to accept and process card payments can devastate merchants, especially online merchant accounts. Unfortunately, it is a reality for some businesses once they are placed on the MATCH list.
Being on this list can impact your ability to run your business and is considered one of the worst things that can happen to your business. Still, there are options available to help you get through your time on the MATCH list.
What Is the MATCH List?
So, what exactly is the MATCH List? MATCH stands for Member Alert To Control High-risk and is a database that stores terminated merchant accounts. Formally known as the Terminated Merchant File (TMF) and sometimes called the First Data Prohibited Merchant List, the MATCH list is maintained by MasterCard Worldwide. All financial institutions, including Visa, Discover, and American Express, use the list.
MasterCard’s MATCH List was created to let merchant processing banks screen potential applicants. This list protects banks from taking on high-risk merchants.
How Does Your Business Get Put on the MATCH List?
While there are many reasons you may find your business placed on the dreaded MATCH list, the most common reason is excessive chargebacks. Other common reasons for people to be placed on this list include:
- Nonpayment of a bill.
- Identify theft of the business owners.
- Fraud or criminal conviction of the business owner.
- Filing for bankruptcy, liquidation, or insolvency.
- Processing illegal transactions.
There are other reasons, but these give you a good idea of the ways businesses can end up on the MATCH List.
How to Check the MATCH List
If your business is on the MATCH List, knowing early can help you get the issue resolved quickly. But checking to see if you are on it may be more complicated than you think.
There is not a formal notification process when a business gets put on the list. Because of this, many listed merchants find out when they apply for a merchant account with a bank and are denied.
The easier way to find out if you are on the list is to ask before applying for anything. You can ask your current or former payment processor if you are on a MATCH report. It can also provide additional information on why your business was placed on the list.
Can I Get Off the MATCH List?
If you find yourself with a MATCH List merchant account, you likely want to do everything you can to get off it, so you can start accepting payments and run your business again. But be forewarned, this can be a long, arduous process.
The MATCH List holds listings for five years. This means that after five years, assuming no additional MATCH entries for your business were submitted, your business information will be removed from the List.
However, waiting five years is usually not an option for businesses.
The best course of action to take is to contact the company that put you on the MATCH List in the first place. It may be willing to work with you to resolve the issue with your account and remove you from the list. An example is if you are MATCH’ed due to nonpayment of a bill. You could ask if you can get removed from the list after you catch up on your bill.
Not all companies are willing to do this, but it never hurts to reach out and see if they are willing to work with you.
What to Do If Your Business Is on the MATCH List
While you wait for your five years to expire or work to resolve your account’s issue, you still need to operate your business. Although your presence on the MATCH List will make finding a processor difficult, you have options.
First, consider using other forms of payment, such as cash, if possible. Though for e-commerce retailers, cash is not an option.
Your next step is to find a card service processor that specializes in high-risk accounts. If you go this route, be sure to disclose that you are on the MATCH List immediately. This can make the application process easier. Be ready to provide documentation and know that the underwriting and approval process will take time.
Sources:
https://ecommerce4im.com/how-can-i-get-off-of-the-match-list/
https://blog.unibulmerchantservices.com/what-to-do-when-your-business-is-placed-on-the-match-list/
