The Green Sheet Online Edition
October 27, 2025 • 25:10:02
Street Smarts
Turn MATCH into momentum
How many deals have you lost to the dreaded MATCH list? Member Alert to Control High-Risk Merchants, also known as the Terminated Merchant File (TMF), is a database managed by Mastercard and used by Visa that flags merchants whose accounts have been terminated for PCI non-compliance and other serious violations.
Most business owners don't know they've been "TMF'd" until their new merchant app is declined or their account is shut down. They can ask their processor or acquiring bank for a reason code and try to prove their listing was an error or their issue has been resolved. These challenges are hard to win.
A merchant can remain in TMF limbo for 5 years unless the acquiring bank that placed them on the list agrees to remove them, which hardly ever happens. That brings me to the million-dollar question: Do you walk away from a TMF merchant or try to help them win?
#h2Be an advocate Sometimes it pays to play the long game even when there's no immediate payoff. Merchant level salespeople (MLSs) can earn respect, trust and even referrals by addressing a TMF issue. Instead of saying you're sorry and walking away, why not try these five simple steps?
- Have your merchant contact the processor that placed the merchant on the list.
- Email Mastercard at matchbusinessowner@mastercard.com for more details.
- Determine the reason code.
- Resolve the issue if possible.
- Work with a high-risk payment processor experienced in MATCH list cases.
- Introduce your merchant to qualified legal counsel when necessary.
MLSs and payments industry attorneys know more about card brand compliance issues than most merchants. As advocates, we can try to convince a payment processor or acquiring bank that holds full liability to grant an exception.
Fraud, illegal products
Bryce Van De Moere, associate attorney at Global Legal Law Firm, appeared on a May 16, 2025, episode of B2B Vault. He noted that merchants who can't navigate banks and processors have a higher risk of failing. One of his clients, for example, stopped selling a weight loss drug immediately when the FDA banned it but was placed on the MATCH list twice. Our discussion is available at www.youtube.com/watch?v=YGtGKYMpkUM.
Some banks will ask a merchant to remove a banned product; others will MATCH-list that merchant. Some banks will restore accounts if they deem an ID theft or chargeback incident was out of a merchant's control; others won't approve or reinstate TMF accounts for any reason. Outlier banks that accept the risk may give merchants a second chance.
Business owners whose identities are stolen need to forward police reports to the credit reporting agencies to avoid having their merchant accounts shut off. One of my merchants didn't want the police involved, so I couldn't help them. Another merchant gave the bank a police report and explanation and received a new merchant account shortly afterward.
Winning merchant strategies
Merchants can work with an attorney to get off the list. I've seen merchants send apps around hoping someone will board them and not catch that they're on the list, which is highly unlikely. Applying for 100 merchant accounts is not a winning strategy.
Merchants can avoid triggering any of the 14 reason codes by following these guidelines:
- Keep chargeback rates low and consider using a chargeback monitoring service.
- Be transparent and notify your processor of any changes to your business model; unapproved activities could lead to violations.
- Follow PCI compliance guidelines and avoid processing payments for other businesses to minimize chances of being flagged as a high-risk merchant.
Merchants that land on MATCH can email Mastercard at matchbusinessowner@mastercard.com with their corporate name, business owner's name, Federal Tax ID and EIN to obtain details about why the acquiring bank placed them on the list and reason code used. Don't bother complaining to this email; they will not reply.
Winning ISO, MLS strategies
Leading causes for MATCH-listed merchants have remained consistent over time. There are things you can't get around, like excessive chargebacks, fraud, money laundering by processing transactions for another business, selling counterfeit or illegal items, or owing money to a processor. In those cases, walking away is your best and only choice.
Agents need to review prospects' websites and ask underwriting if products being sold are legitimate. ISOs need to use scanning software to ensure that only approved items are listed for sale on their merchants' mobile and ecommerce websites.
In the end, an ounce of MATCH prevention is worth a pound of cure. Merchants we move off the MATCH list gain more than a merchant account; they gain trusted advisers who keep them in the know about compliance, technology and industry best practices.
Want to know more? Keep reading The Green Sheet and consider following me on LinkedIn, where we can share ideas and support each other.
Allen Kopelman, a serial entrepreneur, is co-founder and CEO of Nationwide Payment Systems Inc. and host of B2B Vault: The Biz to Biz podcast. Email him at allen@npsbank.com and connect on LinkedIn https://www.linkedin.com/in/allenkopelman/ and Twitter @AllenKopelman.
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