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What is the match list credit card processing?

What is the match list credit card processing?

What Is the MATCH List? The MATCH list is a record of merchants that are considered to carry an unacceptable level of risk. Banks, payment processors, and other financial institutions use this list to identify merchants that they might not want to do business with.

How do I know if I am on the match list?

There’s no convenient portal or formal process for checking if you’re on the MATCH list. It is possible, however, to ask a payment processor or bank that is handling your account if you have been placed on the list. Unfortunately, the most common way to find out is when your merchant account application is denied.

What is match payment processing?

Mastercard’s MATCH list informs issuing banks and other credit card processing services about high-risk merchants before they issue a line of credit to these individuals. This gives these financial institutions the chance to decline without further risk.

How long are you on the match list?

five years
Getting Unlisted. The MATCH list includes names of businesses, business owners and even associates, preventing loopholes in the system like changing your business name to avoid the label. Entities are kept on the MATCH list for five years before the records are removed.

What is a match list?

[noun]/* mætʃ ● lɪst/ The MATCH (Member Alert to Control High-Risk Merchants) List is a comprehensive database, created and managed by Mastercard. Acquiring banks may reference the MATCH List to screen merchant applicants and determine the risk they pose prior to providing a merchant account.

What is TMF in credit card processing?

A terminated merchant file (TMF) is a tool used by credit card processing companies to screen potential merchants before giving them a merchant account. In the case of Mastercard and American Express it is known as the MATCH list.

What are high risk merchants?

Getty. A high-risk merchant account means that your payment processor has labeled your business at a higher risk of fraud or chargebacks. High-risk merchant accounts pay higher processing fees to compensate for the risk the payment processor is taking on.

What is a match check?

Matched Check is a Presented Check that matches a check identified in the file by check number, issue date, exact dollar amount, and that also matches as to payee if Customer directs Bank to do so in the Enrollment Form, as described in Part II, subsection 8.11.

What is match bank?

Bank Match is an automated feature that identifies Dext Prepare items that already have a matching transaction in your accounting software Bank Feed or cash coded payments.

How do I get a high-risk merchant account?

To get a high-risk merchant account, you need to fill out an application online. Of course, to accept card payments you also need to find a reliable high-risk payment processor. The process of applying for a high-risk merchant account is short and simple.

What does match mean on Mastercard?

Mastercard Alert to Control High-risk Merchants
The Mastercard Alert to Control High-risk Merchants (MATCH) allows an acquiring partner to lookup whether another acquiring partner has terminated a merchant in the past and the reason for that termination, to aid in an onboarding decision.

What is match Mastercard?

The Mastercard Alert to Control High-risk Merchants (MATCH) allows an acquiring partner to lookup whether another acquiring partner has terminated a merchant in the past and the reason for that termination, to aid in an onboarding decision.

What is a match file?

MATCH FILES combines variables from 2 up to 50 IBM® SPSS® Statistics data files. MATCH FILES can make parallel or nonparallel matches between different files or perform table lookups. Parallel matches combine files sequentially by case (they are sometimes referred to as sequential matches).

Who are the high risk customers?

Higher Risk Customers are those who are engaged in certain professions or avail the banking products and services where money laundering possibilities are high. Financial Institutions conduct enhanced due diligence (EDD) and ongoing monitoring for higher risk customers.

How do I become a high risk payment gateway?

What is the difference between matching and reconciliation?

One of the key differences between Reconciliation Compliance and Transaction Matching is in the handling of periods. Reconciliation Compliance uses Periods as a basic building block for reconciliations and there’s a process to open, close and lock periods.

What business names are high risk?

High-Risk Industries

  • Casinos or online gaming.
  • Prepaid debit cards.
  • Calling cards and VoIP providers.
  • Pharmaceuticals and online drug providers.
  • Tobacco/E-cigarettes/cannabis products.
  • Telemarketing sales.
  • Adult entertainment and dating services.
  • Airlines, accommodations, and ticketing agents.

What is a Mastercard match?

How to check match list?

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  • What is the TMF or match list?

    The TMF list, also known as the MATCH list for payment processors Mastercard and American Express, is essentially a blacklist of merchant files that are high-risk. This list is shared between a variety of merchant account providers in order to protect other merchants from opening a new merchant account with a business owner whose business has had its privileges revoked.

    Which credit card machine is best?

    Zettle Card Reader. The Zettle card reader has quickly become one the most popular mobile credit card machines options for UK small businesses.

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  • What credit card processing options are available?

    Square. Any business accepting in-person payments needs to take a closer look at Square.

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