Having a business on the TMF or MATCH list might result in severe consequences for the owner. TMF is an abbreviation for Deleted Merchant File. Mastercard maintains the TMF or MATCH list, which details businesses that have had their credit card processors terminate their accounts during the past five years for the cause. Thus TMF in banking is an integral part.
TMF in Banking Explained
Merchants that have been flagged for review by MATCH / TMF due to chargebacks, fraud, or brand network rules breaches. Their company might suffer greatly if they end up on the MATCH list. In particular, the procedure for applying for a new merchant account. Any company or individual flagged for MATCH will be immediately rejected by any acquiring bank. The danger to an acquiring bank from merchants blacklisted by MATCH is very significant.
When a merchant’s acquiring bank closes its account with them, the bank can add the defunct store’s details to a database known as the terminated merchant file (TMF) MATCH list. Those that wish to accept Mastercard as a payment method must meet Mastercard’s specific guidelines. The actual placement, however, is up to the acquiring banks and is mostly unmonitored by Mastercard. If the acquirer discovers that a MATCH listing was added in error on the merchant’s behalf, they must contact Mastercard to explain the situation.
