MATCH List and TMF
Before reading this page, understand:
- Chargeback metrics and ratio calculation
- Network programs (VAMP, ECM thresholds)
- Processor management relationships
- Zero Point Nine Panic crisis response
Getting on the MATCH list can end your ability to accept card payments for 5 years. This page explains how to avoid it and what to do if it happens.
On this page
What Is MATCH?
MATCH (Member Alert to Control High-risk Merchants) is Mastercard's database of terminated merchants. Visa calls it the TMF (Terminated Merchant File). Same thing, different names.
When your processor terminates you for certain reasons, they add you to MATCH. Every acquiring bank checks this database before onboarding a new merchant. If you're on it, most legitimate processors won't touch you.
Think of it as the credit report for merchants. Except there's no score, just a scarlet letter.
The 13 MATCH Reason Codes
Your processor must specify why they're adding you. Each reason code tells future processors what happened.
| Code | Reason | Duration | How Common |
|---|---|---|---|
| 01 | Account Data Compromise | 5 years | Rare |
| 02 | Common Point of Purchase | 5 years | Rare |
| 03 | Laundering | 5 years | Rare |
| 04 | Excessive Chargebacks | 5 years | Very Common |
| 05 | Excessive Fraud | 5 years | Common |
| 06 | Violation of Standards | 5 years | Uncommon |
| 07 | Fraud Conviction | 5 years | Rare |
| 08 | Mastercard Questionable Merchant Audit Program | 5 years | Rare |
| 09 | Bankruptcy/Liquidation/Insolvency | 5 years | Uncommon |
| 10 | Violation of Agreement | 5 years | Uncommon |
| 11 | Account Closed for Cause by Payment Facilitator | 5 years | Common |
| 12 | Identity Theft | 5 years | Rare |
| 13 | PCI DSS Non-compliance | 1 year | Uncommon |
For most SMBs, codes 04 and 05 are the threat. Excessive chargebacks and excessive fraud are the reasons small businesses end up on MATCH.
What Triggers MATCH Listing
For Chargebacks (Reason Code 04)
Your processor decides when to list you. There's no automatic threshold, but these typically trigger termination:
| Scenario | Likelihood of MATCH |
|---|---|
| One month at 0.95% ratio | Low - warning issued |
| Two months at 1.2% ratio | Medium - remediation required |
| Three+ months over 1.5% ratio | High - termination likely |
| Breach with no improvement after remediation | Very High |
| Ignoring processor warnings | Very High |
Key insight: Processors don't want to MATCH you. Every terminated merchant is lost revenue. They'll work with you if you show effort. The merchants who get listed are typically those who:
- Ignored warnings
- Failed to implement remediation plans
- Showed no improvement over 3+ months
- Had ratio spikes above 2-3%
For Fraud (Reason Code 05)
Similar pattern, but based on fraud rates:
| Scenario | Likelihood of MATCH |
|---|---|
| TC40 fraud rate above 0.9% | Warning issued |
| Fraud rate above 1.5% for 2+ months | Remediation required |
| Known fraud operation | Immediate termination |
Other Common Triggers
Code 11 (PayFac termination): If you're processing through a PayFac (Stripe, Square, PayPal), they can list you when they terminate. PayFacs have lower tolerance for risk because they're aggregating many merchants.
Code 10 (Agreement violation): Selling prohibited products, misrepresenting your business, or processing for someone else.
How Long You Stay on MATCH
| Reason Code | Duration | Early Removal Possible? |
|---|---|---|
| 01-12 | 5 years | Rare, requires processor petition |
| 13 (PCI) | 1 year | No |
Five years. That's the standard sentence for most MATCH listings. There's no parole. There's no appeal process with Mastercard directly.
The only way off early:
- The processor who listed you petitions for removal
- You can prove the listing was erroneous
- Legal action (expensive, rarely successful)
What Happens After MATCH Listing
Immediate Effects
- Your current processing stops. Accounts are closed.
- Reserves are held. Usually 6 months, sometimes longer.
- Pending payouts may be delayed. Until chargeback exposure passes.
Finding a New Processor
You have three options:
| Option | Reality |
|---|---|
| Legitimate processors | Will decline you. They all check MATCH. |
| High-risk specialists | Will consider you, at a price. |
| Cash only | Always available, but limits growth. |
High-Risk Processor Terms
If you go the high-risk route, expect:
| Term | Typical Range |
|---|---|
| Discount rate | 4-10% (vs. 2.5-3% for normal merchants) |
| Per-transaction fee | $0.25-0.50 (vs. $0.10-0.30) |
| Rolling reserve | 10-20% held for 6+ months |
| Monthly minimum | $25-50 |
| Chargeback fee | $25-50 per dispute |
| Setup fee | $0-500 |
Math check: If you were doing $50k/month at 2.9%, you paid ~$1,450 in processing. At 7% high-risk, you'd pay ~$3,500. That's $2,000/month extra, or $24,000/year.
Avoiding MATCH
Monitor Before You're in Trouble
Set internal thresholds below network limits:
| Metric | Network Threshold | Your Threshold |
|---|---|---|
| Chargeback ratio | 0.9% (Visa) | 0.65% |
| Fraud ratio | 0.9% | 0.5% |
| Monthly chargebacks | 100 (Mastercard) | 50 |
When you hit your internal threshold, start remediation. Don't wait for processor warnings.
Respond Immediately to Processor Warnings
When your processor sends a warning email:
- Reply within 24 hours. Silence looks like you don't care.
- Acknowledge the problem. Don't make excuses.
- Commit to a remediation plan. Be specific about actions and timelines.
- Ask what they need. "What would you need to see to be comfortable?"
Submit a Real Remediation Plan
Your plan should include:
| Element | What to Include |
|---|---|
| Root cause | Why chargebacks/fraud increased |
| Immediate actions | What you did in the first 48 hours |
| Short-term fixes | Changes this week (alerts, refund policy, etc.) |
| Long-term fixes | Systemic changes (product, process, policy) |
| Metrics commitment | "We expect to reach X% by [date]" |
| Reporting cadence | "We'll report weekly progress" |
Negotiate a Voluntary Exit
If you know termination is coming and you can't turn it around, try to negotiate:
Ask: "If we wind down processing voluntarily over 30 days, would you consider not listing us on MATCH?"
Some processors will agree to this because:
- It's less paperwork for them
- They avoid potential disputes
- You're showing good faith
This only works if:
- You're not egregiously over threshold
- You have no fraud indicators
- You're communicating proactively
- You haven't been deceptive
If You're Already on MATCH
Step 1: Confirm the Listing
You can't check MATCH directly. Ask the processors who decline you:
- "Can you tell me if there's a MATCH listing?"
- "What reason code is shown?"
- "What listing date?"
Step 2: Contact the Listing Processor
Reach out to the processor who listed you:
- Request documentation of why you were listed
- Ask about reserve release timeline
- Ask if there's any path to removal
Step 3: Evaluate Your Options
Step 4: If Using High-Risk Processor
- Read the contract carefully. High-risk processors have stricter terms.
- Understand reserve terms. When do you get your money?
- Get chargeback thresholds in writing. They may be lower than you had before.
- Budget for the extra cost. Price your products accordingly.
Step 5: Plan for Life After MATCH
In 5 years, you'll be off the list. Prepare:
- Maintain clean processing records with high-risk processor
- Document your remediation and performance
- Build relationships for when you can return to normal processing
When to Get a Lawyer
Legal help makes sense when:
| Situation | Why Legal Help |
|---|---|
| Erroneous listing | You were listed incorrectly |
| Processor breach | They didn't follow their own policies |
| Reserve disputes | They won't release your money |
| Contract violations | Either party |
| Significant losses | Business damage from wrongful listing |
Cost reality: Payment processing lawyers typically charge $300-600/hour. A dispute can cost $10,000-50,000+. Only worth it for significant errors or losses.
Test to Run
MATCH avoidance health check:
| Check | Action |
|---|---|
| Current ratio | Calculate today. Are you under 0.65%? |
| Trend | Compare last 3 months. Improving or worsening? |
| Processor relationship | When did you last communicate proactively? |
| Alert coverage | Do you have RDR/Ethoca/CDRN active? |
| Internal thresholds | Have you set warning thresholds below network limits? |
If you're above 0.65%: Start the Zero Point Nine Panic remediation now, before it's a crisis.
Scale Callout
| Volume | MATCH Risk Profile |
|---|---|
| Under $50k/mo | Low transaction count means a few chargebacks spike your ratio fast. Monitor closely. |
| $50k-$500k/mo | Most at-risk range. High enough to attract attention, not high enough to absorb losses. |
| Over $500k/mo | Processors work harder to keep you. More negotiating room, but bigger reserves if you breach. |
| PayFac merchants | Lower threshold for termination. Stripe/Square/PayPal have less patience than traditional acquirers. |
Where This Breaks
-
PayFac terminations. PayFacs (Stripe, Square, PayPal) can list you faster and with less warning than traditional processors. If you're on a PayFac and having issues, move to a traditional processor before termination.
-
Fraud you didn't cause. If you're a victim of a fraud attack, document everything. Ask your processor to note the circumstances if they must terminate.
-
Industry-wide issues. Some industries have structurally high chargeback rates (travel, supplements, subscriptions). Consider high-risk processors from the start.
-
Multiple MCCs. If you're processing under the wrong MCC code and get caught, that's a standards violation (code 06). Make sure your MCC matches your actual business.
Analyst Layer: Metrics to Track
| Metric | What It Tells You | Action Threshold |
|---|---|---|
| Days since last processor warning | Relationship health | If > 90 days, reach out proactively |
| Ratio trend (30/60/90 day) | Trajectory | Any upward trend = investigate |
| Distance to threshold | Risk buffer | Under 0.25% buffer = crisis mode |
| Chargeback reason code distribution | Root cause | Shift in distribution = new problem |
| Reserve balance | Cash flow exposure | Track what's held and release dates |
Early Warning Dashboard
Track weekly:
Chargeback ratio: [___]% (target: < 0.65%)
Distance to threshold: [___]% (target: > 0.25%)
Trend: [UP/DOWN/FLAT]
Chargebacks this month: [___] (target: < 50)
Alert coverage: [YES/NO]
Last processor contact: [___] days ago
Next Steps
Not on MATCH but worried?
- Calculate your current ratio → Chargeback Metrics
- Set up alerts → Setup Dispute Alerts Playbook
- Review your risk profile → Zero Point Nine Panic
Processor sending warnings?
- Respond immediately → Acknowledge and commit to action
- Build remediation plan → Use the template above
- Enable all deflection tools → Chargeback Alerts
Already on MATCH?
- Confirm the listing details → Contact declining processors
- Explore high-risk options → Search "high risk merchant account [your industry]"
- Consider non-card alternatives → ACH, cash, invoicing
See Also
- Zero Point Nine Panic - Crisis response before MATCH
- Network Programs Reference - VAMP, ECM thresholds
- Chargeback Metrics - Calculating your ratio
- Reduce Chargebacks Fast - Immediate triage
- Chargeback Alerts - RDR, Ethoca, CDRN
- Processor Management - Relationship management
- Holds and Reserves - Understanding reserves
- Buying Payments - Processor selection
- Fraud Prevention - Reducing fraud-based terminations
- PCI DSS Compliance - Avoiding code 13 listings