The MATCH in merchant processing means a list that keeps tabs on businesses with questionable security issues. This list is used by banks, payment processors, and other financial institutions to determine whether or not they wish to do business with particular businesses.
If you’re applying for a merchant account at a bank, the bank’s staff will check the MATCH database to determine if your business, you, or anybody connected to your business is on there. There’s a strong probability you’ll get turned down if you, your company, or a partner are already in the system. The technique can be compared to a banned list that financial institutions employ to limit their exposure to danger.
MATCH in merchant processing – I am on the list. What now?
Just because you’re on the list doesn’t mean you won’t get in. The purchasing financial institution might inquire with the previous financial institution about the termination decision. It all boils down to the specifics of your situation and the risk profile of the new bank. It’s also possible to receive conditional approval from the bank, which would put limitations on your account.
MasterCard states that data is stored for a period of five years. There are many shop owners that would rather not wait this long. You might be asking what your options are for removing yourself from this situation.
Getting deleted from MATCH is famously tough. Only by cooperating with the bank that first entered you can you hope to get removed. You may be able to rectify the problem depending on the reason you were placed into the system in the first place. However, there are some inevitable factors that can never be avoided. If you have a fraud conviction on your record, you will most likely remain there.
