Mastercard’s Member Alert to Control High-risk Merchants (MATCH) list is a tool used by the company to identify and manage high-risk merchants. This list contains information about merchants who have had their merchant accounts terminated due to various reasons, such as excessive chargebacks or fraud. In this article, we will discuss everything you need to know about Mastercard’s MATCH list – from what it is and how it works, to its purpose and impact on merchants.
Understanding Mastercard’s MATCH List: An Overview
The MATCH list, also known as the Terminated Merchant File (TMF), is a database maintained by Mastercard that contains information about high-risk merchants. This list is used by the company to identify and monitor merchants who may pose a risk to their business or consumers. Merchants can end up on this list if they have had their merchant account terminated by Mastercard for violating their terms of service, such as excessive chargebacks or suspected fraudulent activity. Merchants need to understand how the MATCH list works and what it means for their business. Being on this list can have serious consequences, including difficulty obtaining a new merchant account with any credit card processor. However, merchants need to know how to get off match list and how to avoid being placed on it in the first place. The purpose of Mastercard’s MATCH list is to protect both the company and its consumers from potential fraud or other risks associated with high-risk merchants.
How Does the MATCH List Work?
Mastercard’s MATCH list gathers data from acquirers, processors, and card issuers. If a merchant’s account is terminated for violating Mastercard’s terms, the acquirer or processor reports this to Mastercard, which updates the MATCH list. This list is accessible to all Mastercard members. Listed merchants may struggle to open new accounts with other processors, as they’re seen as high-risk. The MATCH list protects consumers and financial institutions from potential fraud and warns merchants to follow Mastercard’s rules to maintain good standing.
Reasons for Being Placed on the MATCH List
There are various reasons why a merchant may be placed on the MATCH list. One of the most common reasons is excessive chargebacks, which occur when customers dispute credit card charges and request refunds from their banks. A high number of chargebacks can indicate poor business practices or potential fraud, making a merchant a risk to Mastercard and its members. Other reasons for being placed on the MATCH list include suspected fraudulent activity, failure to comply with Mastercard’s rules and regulations, or violation of laws and regulations related to financial transactions.
Impact of Being on the MATCH List for Merchants
Being on the MATCH list significantly impacts merchants’ ability to conduct business. It may be difficult for them to secure new merchant accounts with other credit card processors, leading to lost revenue and potential customers. This can damage their reputation and credibility, making it hard to regain consumer trust. Merchants may also face more scrutiny and higher fees from financial institutions if listed. Removal requires time, effort, and possibly extra costs, so understanding how to avoid being listed is crucial.
How to Monitor Your Status on the MATCH List
Merchants can monitor their status on the MATCH list by regularly checking their merchant account statements for any notifications or notices from Mastercard. They can also contact their acquirer or processor to inquire about their status and request a copy of the MATCH list if necessary. Moreover, merchants should track their chargeback rates and take steps to reduce them to avoid being placed on the MATCH list. Merchants must be aware of their standing on the MATCH list as it can have significant implications for their business operations.
Steps to Remediate and Remove Yourself from the MATCH List
If a merchant is on the MATCH list, they can take steps to be removed. First, contact Mastercard’s MATCH Resolution Department to request their record. Review this information carefully and gather evidence supporting their case for removal, such as reports of chargeback reduction and improved business practices. Once all documents are collected, submit a dispute letter to Mastercard requesting removal. If successful, removal will occur within 30 days.
Mastercard’s MATCH list is an important tool used by the company to identify and manage high-risk merchants. Being on this list can have serious consequences for merchants, but with proper understanding and proactive measures, they can take steps to avoid being placed on the list and remediate their status if necessary. By staying informed and taking necessary steps, merchants can ensure that they are not negatively impacted by being on the MATCH list.
