A Quick Guide to Understand Terminated Merchant File or TMF
Terminated Merchant File – Most merchants do not know about the Terminated Merchant File until they have been added to one. Once you are added to the TMF, the merchant service providers refuse your request to open a new merchant account. When the merchant does not follow the norms of business properly, owns a high-risk business and/or has a great number of chargeback in previous processing, the MasterCard can put the merchant in the Terminated Merchant File.
What is MATCH list And Its Pros & Cons?
Created and maintained by MasterCard, the MATCH list is the information of the comparatively high-risk merchants. Other networks such as Visa and American Express can also access this list or data. The MATCH stands for Member Alert To Control High-Risk.
This list has its benefits and loss that can affect a merchant and the business.
Pros of MATCH List:
- The main advantage is for the Acquiring bank.
- The bank can choose not to deal with the merchant if it’sa MATCH List merchant.
- Furthermore, it helps banks to decide whether the merchant should get the credit card processing or not, depending on their previous records.
Cons of MATCH List:
- The list cannot be 100% accurate as there is always the possibility of data error.
- The merchant will not know that he is on the list until he changes the merchant service provider or apply for a new merchant account.
- Once added to the MATCH List, the merchant has to face consequences for the rest of his business life.
Previously, it was known by the name TMF (Terminated Merchant File). But then the rules were updated and became more comprehensive. That leads to a change in the name too.
Terminated Merchant File/ MATCH List
The Terminated Merchant File is a file or a list, in which a merchant with bad business records is put under. This list has other names as well:
- TMF – Terminated Merchant File
- MATCH – Member Alert To Control High-Risk
The merchant can use preventive measures to avoid getting into the Terminated Merchant File or Member Alert To Control High-Risk. You can contact Merchant Stronghold for details related to TMF or MATCH. We also have a 24/7 open toll-free number +1 (727) 330 – 3944 for the users.
Furthermore, in this article, we will discuss the various aspects of the MATCH or TMF.
MATCH List Reason Code
Here is the list of the conditions that are used to penalize the Merchants that lead to MATCH List:
| MATCH List Reason Code | Title | Explanation |
|---|---|---|
| 01 | Account Data Compromise | The Merchant steal the customer’s information and sold it to another merchant |
| 02 | Common Point of Purchase | Unauthorized access of customer’s card information |
| 03 | Laundering | A transaction is processed by the merchant that does not involve a genuine cardholder |
| 04 | Excessive Chargebacks | The Merchant has exceeded the minimum number of chargeback |
| 05 | Excessive Fraud | The fraud-to-sales merchant threshold is exceeded |
| 07 | Fraud Conviction | The merchant is been convicted of a business fraud |
| 08 | MasterCard Questionable Merchant Audit Program | The MasterCard has given the “Questionable Merchant” label to a Merchant |
| 09 | Bankruptcy, Liquidation, Insolvency | The merchant either is unable or will likely become unable to meet its financial obligations |
| 10 | Violation of Standards | The Card Network rules are violated |
| 11 | Merchant Collusion | The merchant participated in fraudulent collusive activities |
| 12 | PCI-DSS Non-compliance | The merchant did not comply with the Payment Card Industry (PCI) Data Security Standard requirements |
| 13 | Illegal Transactions | An illegal transaction is processed by the Merchant |
| 14 | Identity Theft | The merchant used a fake identity to get the merchant license |
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Why Merchants Are Added to MATCH?
The basic reasons for adding a merchant into the MATCH list are the carelessness or practicing the unlawful business methods. Here is a list that better describes the matter:
- Having a huge number of chargebacks, each month
- Caught practicing fraudulent activity such as money laundering
- The merchant owes money to the bank
- Disclosing the information of the customer for profit
- Violation of Terms of Merchant Agreement
- Illegal-Product or Advertisement
In all these cases or similar cases, the merchant denied from practicing business by terminating the Merchant Account.
How to Get Off TMF List? – Merchant Stronghold
If you are under the TMF list then the previous merchant service provider can help you understand the exact reason for your query.
- You need to reach out to the previous bank that offered you the merchant services.
- For that, you can contact their support number or send an email.
- You need to know the reason and the reason code, under which you are added to the MATCH.
- Talk to the bank executive for the reason and take notes of the reason code.
- After that, you can ask the bank about the method to get off the MATCH or Terminated Merchant File.
- In the case of fraud, you are highly unlikely to get off the list.
- Otherwise, the MasterCard generally put the merchant for 5 years in the MATCH list
For more tips to get off the TMF, you can contact the experts at Merchant Stronghold. Furthermore, try the toll-free number+1 (727) 330 – 3944 or the email support.
How to Avoid TMF and MATCH? – Contact Merchant Stronghold
Firstly, follow the lawful business practices to never get quarantine by the Banks. After that you can avoid the following situations:
- Decrease the number of chargebacks
- Never try any kind of fraud
- Pay the debts on time
- If you owe any amount to the bank, try to return it in the stipulated time frame
- Finally, get an expert to help you with the troubles
Contact Merchant Stronghold at the toll-free number +1 (727) 330 – 3944. And get hold of an expert for the resolution of the issues that you are facing. Also, we provide specialized support to the high-risk merchants, credit card processing, and merchant account issues. Place a call at the toll-free number +1 (727) 330 – 3944 or try our 24/7- email support.
