Most merchants first hear about the MATCH list when a processor declines their application and cites it. There is no notice when a business is added, no portal to check, and no appeals desk. For a merchant who relies on card payments, a listing can be the most disruptive event in the life of the business.

This post explains what the MATCH list is, the specific reasons merchants end up on it, how long a listing lasts, the narrow circumstances in which it can be removed, and what your processing options are while a listing is active. If you are new to underwriting terminology, start with our guide to what makes a business high risk.

What the MATCH List Is

MATCH stands for Member Alert to Control High-risk merchants. It is a database operated by Mastercard and used by acquiring banks and payment processors to screen merchants during underwriting. It is also commonly called the Terminated Merchant File, or TMF, which is the older and more generic name for the same kind of record.

The mechanism is simple. When an acquiring bank terminates a merchant for one of a defined set of reasons, it reports the merchant to Mastercard along with a reason code. When that merchant later applies for an account somewhere else, the new acquirer queries the database. A match tells the underwriter that another bank ended the relationship over a serious risk issue, and most acquirers will decline the application or attach much stricter terms.

Three points are worth understanding up front:

• It is a record of terminations, not a monitoring program. Chargeback and fraud monitoring programs run separately and generally issue warnings before an account is closed. MATCH comes after the closure.
• Principals are listed, not just businesses. Records can include business owner information, so a listing can follow the people behind a company.
• Only a bank reports and corrects it. Merchants do not add themselves, and in most cases only the acquirer that made the entry can correct it.

Why Merchants Get Listed

Under Mastercard’s rules, an acquirer is generally required to add a terminated merchant to MATCH within a short window after termination when the termination was for a listed reason. Terminations for other reasons, such as a business decision to exit an industry, should not result in a listing. Published summaries of Mastercard’s Security Rules and Procedures describe the following reason codes:

• 01, Account data compromise: the merchant enabled unauthorized access to account data, intentionally or not.
• 02, Common point of purchase: data stolen from the merchant’s systems was used for fraudulent purchases elsewhere.
• 03, Laundering: the merchant engaged in laundering activity.
• 04, Excessive chargebacks: in a single month, chargebacks exceeded 1% of the merchant’s Mastercard sales transactions and totaled $5,000 or more.
• 05, Excessive fraud: a fraud-to-sales ratio of 8% or more in a month, with at least 10 fraudulent transactions totaling $5,000 or more.
• 07, Fraud conviction: a principal owner or partner was convicted of criminal fraud.
• 08, Questionable merchant audit program: the merchant was flagged under Mastercard’s audit program for questionable merchants.
• 09, Bankruptcy, liquidation, or insolvency: the merchant was unable, or likely to become unable, to meet its financial obligations.
• 10, Violation of standards: a violation of card acceptance rules or procedures.
• 11, Merchant collusion: participation in collusive fraud.
• 12, PCI DSS noncompliance: failure to meet PCI data security requirements.
• 13, Illegal transactions: the merchant processed illegal transactions.
• 14, Identity theft: the identity of the merchant or its principal owners was unlawfully used to open the account.

Code 06 is reserved and not currently used. Code definitions and dollar thresholds are set by Mastercard and can change, so confirm the current figures with your acquirer rather than relying on any third-party summary, including this one.

In practice, excessive chargebacks and fraud account for a large share of listings among card-not-present and subscription merchants, which is why the codes matter to anyone in the industries covered in our high-risk classification guide.

How MATCH Differs From Chargeback Monitoring Programs

Merchants often confuse the MATCH thresholds with the thresholds that trigger network monitoring programs. They are different systems with different numbers.

Visa’s Acquirer Monitoring Program, known as VAMP, replaced Visa’s older fraud and dispute monitoring programs in 2025. It measures a combined ratio of fraud and disputes against settled card-not-present transactions. Visa lowered the excessive-merchant threshold from 2.2% to 1.5% on April 1, 2026 for merchants in the United States and several other regions, and merchants in the excessive tier face per-transaction fees on top of acquirer penalties. Mastercard’s Excessive Chargeback Program designates a merchant as excessive when it reaches 1.5% and at least 100 chargebacks in a calendar month, with a higher tier at 3% and 300 chargebacks.

Two things follow. First, these programs are warnings and enforcement steps, while MATCH is the long-term consequence of an actual termination. Second, many acquirers apply internal limits that are stricter than the network thresholds, so a merchant can be placed under review or terminated before ever reaching a network line. Treat your acquirer’s stated limits, not the network maximums, as your real ceiling.

How Long a Listing Lasts

A MATCH entry stays on file for five years from the date it was added, and records older than that are removed automatically. The five-year clock applies regardless of the reason code and generally does not shorten because the business improves. That makes the practical question for most listed merchants not “how do I get off” but “how do I operate for the next five years.”

Can You Get Off the MATCH List?

Early removal is available only in limited situations, and in nearly every case it runs through the acquirer that created the entry:

• The listing was a mistake. This includes misidentification, a wrong reason code, or an administrative error. The acquirer that reported the merchant can request a correction.
• Identity theft. If the account was opened using the merchant’s or principals’ stolen identity (code 14), the real party can seek removal with supporting evidence.
• PCI noncompliance that has been fixed. For code 12, removal may be possible after compliance is verified, typically with validation from a qualified forensic examiner.

Outside of those cases, a valid listing stays for the full term. If you believe you were listed in error, move quickly and build a paper trail: request the termination notice and reason code in writing, identify the acquiring bank (your processor can tell you which one it was), gather processing statements and chargeback records that contradict the stated reason, and submit a written request to the acquirer. An attorney can help press a mistaken listing, but cannot remove one that reflects an actual violation.

Be cautious about services that promise to scrub the list for a fee. Merchants cannot remove themselves, and no third party can override the acquirer’s report where the underlying facts are accurate.

How to Find Out Whether You Are Listed

Mastercard does not notify merchants and there is no public lookup. The usual ways to confirm a listing are:

1. Ask the acquirer or processor that terminated you whether, and under which code, they reported the account.
2. Ask a high-risk processor that screens MATCH during underwriting. Many will run the check and tell you the result and reason code as part of an application.
3. Review your termination letter. Some acquirers state that the account will be reported.

Do not submit repeated applications to find out. Each application can trigger a new query, and a pattern of declined applications looks worse to underwriters than a single honest conversation.

Can You Still Process Cards While Listed?

Sometimes. A MATCH listing is a risk signal, not a legal prohibition, and acquirers are not required to refuse a listed merchant. Some high-risk acquirers and specialists will consider listed merchants, most often when the listing was for excessive chargebacks and the merchant owes nothing to the prior processor. Merchants listed for fraud, laundering, illegal transactions, or insolvency should expect far fewer options.

If you find a provider willing to take the account, expect terms to reflect the history:

• Higher discount rates and transaction fees than a comparable merchant without a listing.
• A rolling reserve, with a percentage of volume held for a set period.
• Lower initial volume caps and ticket limits.
• Longer contract terms and early termination fees.
• Detailed chargeback and fraud control requirements written into the agreement.

One point deserves emphasis. Do not try to get around a listing by reapplying under a new entity or a different name without disclosing it. Principal owner information is part of the record, applications ask about prior terminations directly, and a misstatement in an application is itself grounds for termination, often with funds held. Full disclosure up front is the only approach that leads to a durable account.

To compare specialists that work with difficult-to-place merchants, see our high risk merchant account provider reviews.

Ways to Get Paid in the Meantime

If card acceptance is unavailable or too restrictive, other payment methods can bridge the gap. None fully replaces cards, and each has its own rules.

• ACH and eCheck payments work well for invoices, recurring billing, and higher-ticket transactions. They settle more slowly and carry their own return risk.
• Invoicing and bank transfers suit business-to-business sales where customers expect to pay by wire or ACH.
• Cash is viable only for in-person businesses whose customers still carry it.
• Digital wallets and peer-to-peer apps may move money between accounts, but their terms often restrict commercial use, so read the rules before relying on them.
• Cryptocurrency is an option for some online sellers, with price volatility and regulatory considerations to weigh.

What to Do Immediately After a Termination

1. Get everything in writing. Request the termination notice, the stated reason, and confirmation of whether the account was reported to MATCH and under which code.
2. Settle what you owe. Outstanding chargebacks, fees, or negative balances with the prior processor can disqualify you from future accounts. Confirm the balance, pay it, and keep receipts.
3. Find and fix the root cause. Pull the chargeback reason codes, identify the products, campaigns, or traffic sources driving disputes, and change the underlying practice, not just the reporting.
4. Document your remediation. Underwriters respond to specifics: refund policy changes, billing descriptor updates, fraud tools added, and monthly ratios since the change.
5. Apply once, with full disclosure. Approach a specialist that handles listed merchants, disclose the termination and reason code, and provide your remediation documentation along with the application.

How to Avoid Being Listed

Prevention is far cheaper than recovery. The practices that keep merchants out of trouble are consistent across industries:

• Track your ratios monthly. Know your chargeback and fraud ratios on each card network, and set an internal alarm well below the network and acquirer limits.
• Use clear billing descriptors. Customers who do not recognize a charge dispute it. Make sure the descriptor matches your public brand and includes a support contact.
• Make refunds easy. A refund costs less than a chargeback and does not count against your dispute ratio.
• Add fraud controls to card-not-present sales. Use address verification, card security code checks, velocity rules, and 3D Secure where appropriate.
• Use chargeback alerts and dispute resolution tools. Pre-dispute alerts give you a chance to refund before a formal chargeback is filed.
• Stay PCI compliant. Complete your annual validation, keep card data off your systems where possible, and respond quickly to any security incident.
• Respond to your acquirer’s warnings. A remediation plan submitted early is treated very differently from silence after a notice.

Frequently Asked Questions

Is the MATCH list the same as the Terminated Merchant File?

Yes, for practical purposes. TMF is the older, generic term for a database of terminated merchants, and MATCH is Mastercard’s system. Merchants and processors use the two names interchangeably.

Does Visa have its own MATCH list?

MATCH itself is a Mastercard system, but acquirers commonly check it for all card brands during underwriting, and card networks run their own monitoring and enforcement programs. Ask your acquirer how a termination would be reported across networks.

Will a MATCH listing show up on my personal credit report?

MATCH is an industry database used for underwriting, not a consumer credit bureau. It does not appear on a credit report, although a listing can still affect your ability to open merchant accounts personally and through any business you own.

Can a new business entity avoid the listing?

Not reliably, and attempting it without disclosure is risky. Records can include principal owner information, and applications ask directly about prior terminations. A nondisclosure discovered later can result in termination and held funds.

How long does it take to get approved after being listed?

There is no fixed timeline. Specialists that accept listed merchants typically underwrite more carefully than for standard accounts, so expect additional documentation and a longer review than a typical application.

A MATCH listing is serious but rarely the end of a business. Understand the reason code, resolve any balance owed, fix the underlying problem, and approach processors with complete disclosure. For a broader look at underwriting, rolling reserves, and what to expect from a high-risk account, return to the HighRiskProcessing.com home page or browse more guides on our blog.