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In the digital payments ecosystem — especially for businesses classified as “high-risk” — there are certain lists that can completely determine a company’s ability to operate. One of the most relevant and feared is the MATCH List, also known as the Terminated Merchant File (TMF). Understanding how it works, its implications, and how to stay off it is essential for safeguarding your business’s financial future.
The MATCH List is a database maintained by Mastercard, listing merchants whose processing contracts have been terminated for serious reasons such as fraud, excessive chargebacks, or other high-risk activities. This list is consulted by acquiring banks and payment service providers (PSPs) before approving new merchants.
In short, if your business is on this list, opening a merchant account with traditional providers becomes very difficult.
Mastercard does not add merchants to the MATCH List directly. Instead, it is the previous acquiring bank who adds the merchant after terminating their account. Common reasons include:
These risks are especially prevalent in high-risk sectors such as:
The most immediate effect is severely restricted access to traditional payment processors. Any acquirer who checks the MATCH List and finds your business will likely reject your application.
Consequences include:
Typically, a merchant remains on the MATCH List for five years. The only way to be removed sooner is if the same acquiring bank that listed you requests deletion — something that rarely happens unless errors or miscommunications are proven.
There is no public tool to verify your status directly, but you can try:
At NextGen Payment, we help businesses identify these issues and offer alternatives when MATCH List inclusion is suspected.
It’s difficult — but not impossible. Some recommendations:
Prevention is critical, especially in sensitive industries. Best practices include:
At NextGen Payment, we partner with acquirers and PSPs who specialize in high-risk businesses. We understand the challenges and provide tailored solutions to keep you off watchlists like the MATCH List or VAMP.
You’re not alone. If you’re in industries like crypto, trading, CBD, or subscriptions and struggle to open merchant accounts, we can help. We offer high-risk-friendly solutions and support payments via:
The MATCH List can be a serious roadblock to business growth — but it’s not the end of the road. With the right guidance, a compliance strategy, and specialized partners, it’s possible to continue operating while minimizing risk and staying compliant.
Want to learn more? Contact us at NextGen Payment and let’s build a payment strategy that’s resilient, flexible, and future-ready.
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