Is it possible to come back from the MATCH list? Indeed it is, but not without a good amount of effort from a merchant.
About once a month, we’ll get an inquiry from a merchant, recently placed on the MATCH list (also called the TMF list), looking for payment processing. We approach each merchant case individually, but merchants should be prepared to be completely transparent and explain how they found themselves in such a situation (fraud, excessive chargebacks, breach of volume caps or whatever).
The Most Important Step When You’re MATCH Listed
Usually when a merchant finds his or herself blacklisted, there is some form of outstanding debt involved that unquestionably needs to be settled. When any and all debts are paid, the merchant needs a letter from their acquiring bank or payment processor stating so.
Considering the reason a merchant was MATCH listed, the debt forgiveness letter from the bank or processor is a giant step forward for the merchant.
What Can MATCH-Listed Merchants Expect?
Coming back from the MATCH list takes a degree of patience and discipline. Contingent on the new payment processor and acquiring bank, MATCH-listed merchants can expect these three things:
- Slightly Higher Rates: Merchants on or previously on the terminated merchant file may be subject to higher rates — decided upon by the bank – for credit card processing, from anywhere between 3-12 months.
- Longer Reserve Periods: TMF merchants will likely start their new merchant account relationship with a long term reserve, perhaps the duration of the merchant account contract period. If the merchant meets the terms for that period, s/he is free to negotiate new terms.
- Volume Caps: For a similar period, TMF merchants will need to operate under lower volume caps.
“It all depends on past debts and why the merchant was put on the list. We’ve had merchants come to us from the MATCH list, and we’ve gotten them a merchant account,” said Instabill Sales Manager Wendy Jacques. “It is always a case-by-case situation with MATCH-listed merchants, but it is possible to get payment processing.”
Will the MATCH List Grow?
We hope we’re wrong, but the number of blacklisted merchants may increase. Let us explain:
Effective Jan. 1, 2016 Visa amended its chargeback and fraud threshold to be consistent worldwide: 1 percent of sales or 100 chargebacks per month, down from 2 percent and 200 per month previously. Some high risk merchants may have a difficult time adapting to the new, more stringent policy.
Merchants must be able to adapt to the new threshold, or risk finding themselves MATCH-listed.
Have you been on the MATCH list? We want to hear your story. Please leave a comment below.