Tuesday, June 25th, 2019
Are you familiar with what the MATCH list is? Many business owners are unaware of this list or what it means to be placed on it. Unfortunately, if you’re reading this, you might have just found out that your business name has just been added to it.
Being placed on the MATCH list is a difficult place to be in, but it is possible for your business to survive it. The sooner you act the better your chances are for getting your business back on the right track. But first, take a closer look at what this list is and why your business’ name is now on it.
What is MATCH list?
MATCH stands for Member Alert to Control High Risk Merchants. Simply, it is a record created by MasterCard for compiling information of the businesses whose merchant accounts have been terminated. Acquiring banks regularly use this list as a parameter to screen applications for credit card processing services. Thus, if your name is on this list, it will be next to impossible to secure traditional payment processing services.
Why was my business listed on the MATCH list?
There are very solid reasons behind being placed on the MATCH list. The easiest way to find out why your business is listed in the MATCH list is to ask the issuing bank or the merchant provider. The most common reason merchants end up on the list is chargebacks. If your business has exceeded the chargeback threshold, your merchant account will be frozen and ultimately terminated. Now, your business is on the list and is perceived as high risk by every payment processor.
Surviving the MATCH list
The first step is to confirm that your business has indeed been placed on the list. Once you experience termination or cancellation of your merchant account, confirm with your payment processor whether or not your business is on the MATCH list. Next, keep in mind that once you are on the list, it will take time to get things sorted out.
It won’t be possible to immediately remove the damage to your business reputation, but with the right approach, you can watch the blemish fade away. The next place to turn is to high risk processors. You may not be able to work with mainstream processors, but you can reach out to the many industry leading credit card processors that specialize in working with high risk merchants.
Where to find a high-risk processor
Fortunately, there are many high-risk providers that specialize in working with merchants that have been placed on the MATCH list. They not only provide high risk processing services but also help you manage future chargebacks. Many are known for offering a fast, simple and hassle-free setup process – secure a merchant account in as little as 24 hours. If you would like to find a provider and/or compare processors, consider the many reviews Best Payment Providers has to offer.
Yes. A MATCH placement is a big thing, but your business can survive it and go on to thrive. The key is to be proactive and find solutions that help you turn your business’ situation around quickly.