Even if you’ve never been on the dreaded Terminated Merchant File (also known as TMF MATCH) list, you need to take measures to ensure that you don’t end up on it.
How? For starters, rethink whom you do business with. Signing up with the wrong processor greatly increases your chance of landing on the MATCH file, especially for incidental reasons like fee discrepancies.
Sign up with reputable processors and have a thorough understanding of the provisions in the merchant account application, particularly the contract period and any associated termination fees. Also, it’s a good idea to understand the rules of Visa and MasterCard. Knowing about the MATCH file and the general regulations of Visa and MasterCard can help when trying to get off of it – or stay off.
Preventative measures can help you to stay off the TMF – measures such as fraud detection and an effective transaction management system that prevents mistakes like authorizing transactions multiple times, charging cancelled cards and other oversights.
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