How to Avoid TMF or Match Lists?
TMF, MATCH file and GNF:
One of the most challenging things a merchant faces
is going on the blacklist by the credit card companies,
such as Visa/ MasterCard. This blacklist is famously known as “TMF or MATCH”
list. This makes it very difficult to get a merchant account anywhere
around the globe, especially, if it is a high-risk merchant account.
Second to that is being put on the GNF list, which is Group Negative File.
However, it is not as severe but has its own consequences.
Match file is like a blacklist
that banks can cross-check when they take on a new business. The match is
a system created and managed by MasterCard. It is a database that contains
information about businesses, which have gone through the phase of a fraud or a chargeback and
has been terminated for many reasons. TMF Terminated Merchant
File is another term,
which is coined by Visa is just a synonym of MATCH.
GNF, Group Negative File, is First Data’s internal list of
businesses that they have had any kind of issue with them before and no longer
want to do business with them. This might not be a fraud case; you might be
listed on it because of the closing of
your first data account.
How to get off TMF List?
If you find your business on the TMF or MATCH List,
and you need to know how you got listed, reach out to your service provider and
they can help you understand the exact reason.
You need to contact the previous bank with whom you had merchant services previously.
Request them to give you the reason and reason
code under which you were added to the MATCH.
You should know from the bank how to get off the MATCH or
TMF. MasterCard, in general, puts the merchant for
5 years in the MATCH list.
In case of fraud, you are highly unlikely to get off the list. Then, you do not
have any option than
incorporating a new company.
Why are Merchants added to MATCH or TMF?
·
Having a huge number of chargebacks on a
monthly basis.
·
The merchant owes
money to the bank.
·
Merchant caught practicing fraudulent activity such as money
laundering.
·
Illegal-product or Advertisement.
·
Disclosing information of profit to the
customer.
·
All in all, violating the terms of a Merchant Account.
What should a Merchant do to avoid these
lists?
·
Never try any kind of fraud from your as
well as your teams end.
·
Pay the debts on time and try not to owe
any money to the bank.
·
Decrease the number of chargebacks.
·
Get an expert who can manage these for you.
What to do to get off the Match List?
The only company that can get you off the list is the company that put you on
it.
Mostly, the merchant only
learns that their business is on the MATCH is
when they apply for a merchant account with
another merchant service provider.
You should reach out to the
previous service provider and ask him about the reason, and you can be referred
to the acquiring
bank itself; you may have to make diligent calls and be
patient in this situation.
If a business was placed on the MATCH for
high chargeback ratio,
the processor needs
to know that they are not going to get stuck with bills from the merchant’s
former customer’s chargebacks.
Getting with the wrong service provider who does not understand
your business is way more harmful than getting on the TMF or MATCH itself.
Get your business a team who
understands your vertical and supports throughout your business tenure.
For more information visit: www.merchantstronghold.com
Or email us at: info@merchantstronghold.com
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