Master
Card International maintains
a database file of merchant
companies and their principals
whose merchant processing accounts
have been terminated for any
of many different specific
reasons.
This
database was formerly known
and referred to as the Terminated
Merchant File or "TMF." This
file is used by Master Card
and Visa processing banks,
to
identify specific merchants
and principals who have already
been terminated. Once
a merchant is on this list
it is highly
unlikely that future
merchant account applications
will be approved. The "TMF",
or MATCH list, is essentially
a BLACKLIST from
which it is almost impossible
to ever be removed. There
is, however, the possibility
of a Second Chance at a new
merchant account:
"Second
Chance" Match
File Accounts
Inquiry
Form
As described
above the MATCH list is a database
of merchant companies and their
principals (owners) by names,
SS#'s, and more. Virtually
all providers of credit card
merchant accounts check this
list when they receive a new
application for merchant status. I
have not heard of ANY applications
being approved if the company
and/or the principals were
listed in the MATCH (TMF) database. Only
a fool would not take
this very seriously.
Excessive
number of counterfeit sales. (Counterfeit
is false, not a real sale.) Don't
do any testing, such charges
and cancellations may cause the
loss of your account. All
account activity must be legitimate.
Fraudulent
activity as determined by an
investigation. This can
be done by merchant bank (acquirer)
or can be learned from Visa USA
or Master Card International
Merchant
convicted of credit card fraud.
Merchant
submitted unauthorized credit
card charges, most often of the
recurring variety. Never submit
an unauthorized charge, never.
Excessive
chargebacks. This is the most
common reason for termination. This
is the result of poor or unethical
(dishonest) merchant business
practices.
"Laundering":
Merchant deposited transactions
that were generated by a different
business. This may seem
innocent, but it is a violation
of Visa and Master Card rules. Merchant
accounts are authorized for a
specific category of service
or product and must not be used
for others. Do not do your
friend a "favor" by
collecting his money using your
merchant account, the consequences
can be disastrous.
Violation
of your merchant agreement. The
merchant bank (acquirer) determines
that certain serious violations
of the merchant agreement could
result in increased loss exposure
to itself or the credit card
community. Get familiar
with your Merchant Agreement
and follow the rules. Ignorance
is no excuse.
Do
not underestimate the value
of your Merchant account. Not
being able to accept credit
cards can block your financial
prosperity on or off the Internet. Successful
businesses can become overnight
failures. Take this VERY seriously.
Here are
some additional guidelines:
Do
not go over your officially authorized
maximum ticket without permission
from your Merchant Processor. Likewise,
do not exceed your authorized
monthly maximum sales without
advanced permission from your
Merchant Processor (acquirer).
Provide
your customers with timely and
accurate debit information. Be
sure that it is easy for them
to reach you with any of their
questions, concerns or complaints.
Make
sure you have a Customer Support
phone number appearing on your
customers' monthly statements. If
they don't recognize your debit
they should call you FIRST before
they mistakenly deny the charge. This
can head off unnecessary charge
backs to your account and help
keep your account out of trouble.
Stay
in touch with your customers
using any means available. Send
E-mail, make phone calls, send
newsletters. The more they
know you the better they will
feel about you and your business. Be
Sure To Provide GREAT customers
service. Give
them service equal to or better
than the service that YOU would
like to receive yourself.
Be
friendly and courteous in all
regards. Always put the
customer first. Show them
how they may save money or save
time. Make good suggestions
as though you were a member of
their family.
Don't
be short-sighted. Consider
your business a long-term enterprise. Make
your long term goals more important
than quick short term profits
that will benefit you more than
your customer.
"Second
Chance" Match File Accounts
