TMF MATCH List


 The abbreviation TMF stands for (Terminated Merchant File) and the word MATCH stands for (Merchant Alert to Control High Risk). 

The TMF 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.

MATCH is the rebranded version of an older, more aptly named list, the Terminated Merchant File (TMF). It was created by MasterCard to help acquiring banks identify high-risk merchants before entering into merchant agreements with them.

Every merchant on the TMF MATCH list is assigned a reason code that explains why they’re on it:

01 Account Data Compromise

02 Common Point of Purchase

03 Laundering

04 Excessive Chargebacks

05 Excessive Fraud

06 Unused

07 Fraud Conviction

08 MasterCard Questionable Merchant Audit Program

09 Bankruptcy/Liquidation/Insolvency

10 Violation of Standards

11 Merchant Collusion

12 PCI-DSS Non-compliance

13 Illegal Transactions

14 Identity Theft

While being on the MATCH list won’t cause you to lose any currently active merchant accounts in good standing, the most serious consequence is that you will struggle to open any new ones while you’re on it. MasterCard’s acquirers are required to consult the list before onboarding a new merchant, and in the vast majority of cases, they will flat-out reject any merchant on it. Some payment processors that specialize in handling high-risk accounts will accept these merchants, but they will also charge exorbitant rates for their services.

There’s no formal notification process when a merchant is placed on the TMF MATCH list.  Most of them only find out that they’re on TMF MATCH List when they apply for a new account and get rejected.

When an acquirer terminates a merchant account for certain reasons, they may submit that merchant’s information to the TMF MATCH list. Merchants on the MATCH list are considered extremely high risk and will have a difficult time opening new merchant accounts.


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