The MATCH list and TMF explained: why no processor will approve you (and what to do)
MATCH (Mastercard Alert to Control High-risk Merchants), often called the TMF or Terminated Merchant File, is a shared database acquirers use to flag businesses whose accounts were terminated for reasons like excessive chargebacks, fraud or compliance breaches. A listing typically lasts five years and makes new approvals very hard because every acquirer can see it. You cannot simply delete yourself, but you can have a wrongful or resolved listing challenged by the acquirer that added you, and a specialist can place genuinely MATCH-listed merchants with the small number of acquirers that underwrite them case by case.
What MATCH/TMF is, and who runs it
MATCH stands for Mastercard Alert to Control High-risk Merchants. It is a database Mastercard operates and acquirers contribute to, recording merchants and their principals whose card-acquiring accounts were terminated for cause. The older name, Terminated Merchant File (TMF), describes the same thing. When you apply for a new account, the acquirer checks MATCH; a hit is a serious red flag and the usual reason a string of applications all get declined with little explanation.
The reason codes
A MATCH entry carries a reason code that tells the next acquirer why you were terminated. The codes cover things like excessive chargebacks, fraud, money laundering, identity issues, breach of the acquirer agreement, and prohibited or undisclosed business activity. The specific code matters: a listing for excessive chargebacks reads very differently to one for fraud, and it shapes which specialist acquirers, if any, will consider underwriting you while you are listed.
All 13 reason codes, plain English
| Code | Name | Plain English |
|---|---|---|
| 01 | Account Data Compromise | Cardholder data was exposed or stolen from the merchant's systems. |
| 02 | Common Point of Purchase | Fraud was traced back to the merchant as the likely source of stolen card data. |
| 03 | Laundering | The merchant processed payments for another business that was not their own (transaction laundering). |
| 04 | Excessive Chargebacks | The merchant breached Mastercard's chargeback thresholds, normally measured by ratio and count over a rolling window. |
| 05 | Excessive Fraud | Confirmed fraud transactions exceeded scheme thresholds within a defined period. |
| 07 | Fraud Conviction | A merchant principal was convicted of a fraud-related criminal offence. |
| 08 | Mastercard Questionable Merchant Audit Program | A formal Mastercard audit identified the merchant as engaging in practices that pose risks to the payment ecosystem. |
| 09 | Bankruptcy / Liquidation / Insolvency | The merchant could not (or was likely to be unable to) meet its financial obligations. |
| 10 | Violation of Standards | The merchant breached Mastercard's scheme rules: prohibited transaction types, minimum or maximum amount rules, brand-mark misuse. |
| 11 | Merchant Collusion | The merchant engaged in collusive fraud with cardholders or other parties. |
| 12 | PCI DSS Non-Compliance | The merchant failed to meet Payment Card Industry Data Security Standard requirements. |
| 13 | Illegal Transactions | The merchant processed transactions that were illegal under applicable law. |
| 14 | Identity Theft | The acquirer believes the listed merchant's identity was unlawfully assumed by a third party. |
Note: Mastercard reserved code 06 and does not currently use it. The active list runs 01-05, 07-14 (13 codes total).
UK removal routes, by reason code
| Code | Most realistic UK removal route |
|---|---|
| 01, 02 | Demonstrate full PCI DSS remediation and a clean post-incident audit. Listing acquirer can request removal once the breach is closed. |
| 04, 05 | Realistically wait the 5 years. Acquirers rarely remove chargeback or fraud-threshold listings early. |
| 09 | Once insolvency is closed and debts resolved, request removal in writing. UK insolvency closure documentation is the strongest evidence. |
| 10, 12 | Provide evidence of remediation: PCI compliance certificate, scheme-rule training, written policy. Listing acquirer decides. |
| 14 | Identity theft. UK route: file an Action Fraud report (NFIB), provide ID and supporting documents to the listing acquirer, escalate to FOS if unresolved within 8 weeks. |
| 07, 11, 13 | No realistic early removal. These are conviction or proven-collusion codes. |
How long a listing lasts, and who sees it
A MATCH listing typically stays for five years from the termination date, then drops off automatically. During those five years every acquirer that checks MATCH can see it when you apply, which is why a listing follows you across the whole market rather than just the acquirer that added you. There is no public lookup, so you usually only learn of a listing indirectly, through repeated unexplained declines.
Can you get removed?
Only the acquirer that listed you can remove the entry, and only in limited circumstances: if it was added in error, or if the underlying issue (for example unpaid fees or a resolved chargeback problem) has been settled. You cannot delete yourself, and no third party can wipe a legitimate listing. The realistic path is to contact the listing acquirer, evidence that the cause is resolved or wrongful, and ask them to correct or remove it.
How to get approved while listed
A small number of specialist high-risk acquirers will underwrite MATCH-listed merchants case by case. They do it when you disclose the listing upfront, explain what caused it, and show what you have changed (lower chargebacks, fixed compliance, settled fees). Hiding the listing guarantees a decline the moment they check MATCH, and burns the relationship. The honest, disclosed route, ideally presented by a broker who knows which acquirers will look, is the only one that works.
Preventing a listing
Prevention is far easier than removal. Keep your chargeback ratio under control, stay inside your acquirer's rules and processing limits, and never trade outside what you were underwritten for or paper over a high-risk category. Most listings trace back to a chargeback breach, a compliance surprise or an undisclosed activity. Getting placed honestly with the right acquirer from the start, with your category disclosed, is the best prevention there is. If you have already collected declines, read why merchant accounts get declined.
MerchantHQ is a comparison and introducer service, not a pay-to-be-listed directory. You pay us nothing. With your consent, we share your details only with the company preparing your quotes, and with no one else. We cannot remove a legitimate MATCH listing (only the listing acquirer can).
Common questions
How do I find out if I am on the MATCH list?
You cannot search it yourself; only acquirers can. The usual signal is being declined repeatedly with little explanation. A broker submitting on your behalf will often learn the reason code from the acquirer.
How long does a MATCH listing last?
Typically five years from the termination date, after which it should drop off automatically. It can be removed sooner only if the acquirer that added you agrees it was wrongful or the issue is resolved.
Can I get a merchant account while on MATCH?
Sometimes. A small number of specialist high-risk acquirers will underwrite MATCH-listed merchants case by case if you disclose the listing, explain the cause and show remediation. Hiding it guarantees a decline once they check.
How do I get removed from the MATCH list?
Contact the acquirer that listed you and ask them to correct or remove it; only they can. If it was added in error or the underlying issue (such as unpaid fees) is settled, they can request removal.
How do I avoid ending up on it?
Keep chargebacks under control, stay compliant with your acquirer's rules, do not breach processing limits, and never paper over a high-risk category. Getting placed honestly with the right acquirer from the start is the best prevention.
Is the MATCH list the same as the Terminated Merchant File?
Yes, in everyday usage. MATCH (Member Alert to Control High-Risk Merchants) is Mastercard's formal name. TMF (Terminated Merchant File) is the older industry term for the same database. Some acquirers and ISOs still call it the TMF.
Does MATCH apply to UK merchants?
Yes. MATCH is a global Mastercard system. Any UK acquirer that is a Mastercard member checks MATCH on every new merchant application.
Will being on MATCH affect my limited company or only me personally?
Both. MATCH lists the merchant entity and its principal owners (directors, controlling shareholders). Setting up a new Ltd does not get you off the list; principals are checked against new applications.
Does the FCA regulate MATCH?
No. MATCH is a private Mastercard scheme database. The FCA regulates the acquirers, but not the database itself. Disputes about wrongful listings are typically resolved either acquirer-direct or via the Financial Ombudsman Service.
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Founder & Managing Director, Muswell Rose, founder and PSC of Best Business Loans Ltd
Adam is the founder and managing director of Muswell Rose and a founder of Best Business Loans Ltd, the company behind MerchantHQ. His career runs through insurance, mortgages, commercial finance and fintech lending, including payments and merchant services. He writes the MerchantHQ library.
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Payments review: Derren Powell, payments and fintech specialist, formerly Vice President, Business Development (Merchants) at Mastercard. Independent reviewer; the MerchantHQ editorial team retains control of the final content.