TMF stands for
Terminated Merchant File
. MATCH stands for (Member Alert to Control High Risk Merchants). The TMF or MATCH list is created by Mastercard to compile information about merchants who have been closed by their credit card processors within the last 5 years for cause.
What does it mean if the merchant is put on the match list?
The MATCH List is
a blacklist of high-risk merchants that many acquirers use to avoid merchants that are likely to cause them trouble
. The list is maintained by Mastercard and is used across the payments industry.
What does TMF stand for and what does it mean for a merchant if they receive a TMF?
“The
Terminated Merchant File
or TMF is a list compiled and managed by MasterCard, of business owners (merchants) whose accounts have been terminated in the past 5 years for any of a variety of reasons. “ Banks and other account providers find the TMF or Match File list to be incredibly useful.
How long does a merchant stay on the match list?
Merchant records remain on the MATCH list for
five years
. Each month, MATCH automatically purges any Merchant information that has been in the database for five years.
What does it mean when it says merchant processing?
Merchant processing refers
primarily to the ability of a merchant to accept a transaction payment through a secure channel
. The types of payments that are covered include: • Credit cards. • Debit cards. • ACH transactions (sometimes called EF)
What is MasterCard match?
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 VMSS visa?
Visa Merchant Screening Service
(VMSS) allows Acquirers to identify potentially high-risk, unreliable or fraudulent Merchants and Third Party Agents prior to making an onboarding decision and therefore helps reduce risk exposure to fraudulent and illegal transactions, and helps protect against brand damage and non- …
What does risk match mean?
MATCH stands for the
MasterCard Alert to Control High-risk Merchants
and it's a system where acquirers are given the opportunity to review risk information before entering into an agreement with a merchant.
What is GNF match?
TMF Terminated Merchant File is another term, which is coined by Visa is just a synonym of MATCH. GNF,
Group Negative File
, is First Data's internal list of businesses that they have had any kind of issue with them before and no longer want to do business with them.
How long is the match list?
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 did a merchant do?
A merchant is a
person who trades in commodities produced by other people
, especially one who trades with foreign countries. Historically, a merchant is anyone who is involved in business or trade. Merchants have operated for as long as industry, commerce, and trade have existed.
How do you know if you are on the match list?
If you are on the
MasterCard list you are MATCH'd
. If you are on the Visa list you are TMF'd. In the US the list is called TMF/MATCH. However as previously indicated, credit card companies have association to this system, regardless of the card company type.
How do I get off a MasterCard match?
- Suffered a data breach.
- Failed to comply with PCI DSS.
- Engaged in credit card laundering, fraudulent activity, or other illegal transactions.
- Violated MasterCard standards or engaged in conduct that threatens the MasterCard brand and reputation.
- Exceeded monthly chargeback thresholds.
Who is the merchant in a transaction?
Merchant:
A commercial entity or person authorized to accept cards and receive payments from its customers
pursuant to agreement with the card brands. Merchant (or acquiring) bank: The financial institution that has an agreement with a merchant to accept (acquire) deposits generated by card transactions.
What is an example of a merchant?
A person whose business is buying and selling goods for profit; trader, esp. … Merchant is defined as a person or company engaged in the business of selling or trading goods.
A wholesaler
is an example of a merchant. A retail store owner is an example of a merchant.
What is a payment processing merchant?
The basics of merchant processing are simple enough – you sign up with a merchant payment provider so that you can accept
credit cards, debit cards and other forms of
payment from your customers (and receive payment yourself for all of those payments).
