The Consequences Of aBeing On The MATCH List, And How To Solve Them
If you are a business owner, then you have probably heard of the MATCH list. This is a list that MasterCard maintains of businesses that have had their credit card processing privileges terminated. If your business is on this list, it can be difficult to get back into good standing with MasterCard. In this blog post, we will discuss the consequences of being on the MATCH list, and how to solve them!
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The Consequences Of Being On The MasterCard MATCH List
It Will Decrease Your Sales And Ruin Your Reputation
The consequences of being on the MasterCard MATCH list can be significant. First, your business will likely see a decrease in sales, as customers will be less likely to purchase from you if they cannot use their credit cards. This means that you will have to rely on other forms of payment, which can be more expensive and less convenient for your customers. Additionally, being on a Mastercard match list can damage your business’s reputation, as it will be seen as a high-risk merchant. This can make it difficult to attract new customers and partners.
You Will Have Issues When Trying To Get Approved For Future Credit
you may have trouble getting approved for future credit card processing accounts. This can hurt your business’ growth and profitability. This will also make it difficult to find a new credit card processor, as many processors will not want to work with a high-risk merchant. Additionally, you may have to pay higher fees for credit card processing, as processors will view your business as a high risk.
Your Employees Will Be Impacted
Your employees may also be impacted by your business being on the MATCH list. They may find it difficult to get approved for credit cards, and they may have to pay higher fees for credit card processing. Additionally, your employees may be less likely to recommend your business to others, as they will view it as a high-risk merchant. This can make it difficult to attract new employees and keep your current employees happy.
You May Have To Close Your Business
In some cases, being on the MATCH list can lead to your business being forced to close. This is because it can be difficult to operate a business without credit card processing, and you may not be able to find a new processor that is willing to work with you. Additionally, your customers may not want to do business with you if they cannot use their credit cards, and this could lead to a decrease in sales. If you are forced to close your business, it can impact your employees, your customers, and your reputation.
How To Solve The Consequences Of Being On The MasterCard MATCH List
If you are on the MATCH list, there are a few things that you can do to try and improve your situation:
Reach Out To MasterCard
First, you should reach out to MasterCard and try to explain your side of the story. It is possible that they will be willing to work with you if they understand your circumstances. This will likely require you to provide them with documentation and information about your business.
Work With A High-Risk Processor
You may be able to find a credit card processor that is willing to work with high-risk merchants. These processors typically charge higher fees, but they can be a good option if you are having trouble finding a new processor. For example, Payline Data is a high-risk processor that offers merchant services to businesses of all types.
Consider Alternative Forms Of Payment
If you cannot find a new credit card processor, you may need to consider alternative forms of payment. This could include cash, check, or ACH. These options can be less convenient for your customers, but they will allow you to continue doing business. This also gives you time to try and improve your situation so that you can eventually get back on a credit card processing account.
Keep Your Employees And Customers Informed
Be sure to keep your employees and customers informed about your situation. They may be willing to work with you if they understand the circumstances. Additionally, this will help to protect your reputation, as people will be less likely to spread negative information about your business if they know that you are working to improve the situation. For example, you can send an email to your employees and customers explaining the situation and what you are doing to try and resolve it.
Other Important Things To Know
There are a few other important things to know about the MATCH list:
It Is Possible To Get Removed From The List
If you are able to improve your situation, you may be able to get removed from the MATCH list. This typically requires working with MasterCard and providing them with information about your business. Additionally, it can take time to get removed from the list, so you will need to be patient. This is because MasterCard needs to investigate your business and make sure that you are no longer a high-risk merchant.
The Effects Of Being On The List Vary
The effects of being on the MATCH list can vary depending on your business. For example, if you are a small business, you may not be as affected as a larger business. Additionally, if you have other forms of payment available, you may not be as impacted.
It Is Important To Act Quickly
If you are on the MATCH list, it is important to act quickly. This is because the longer that you wait, the more difficult it will be to improve your situation. Additionally, the sooner you take action, the less likely it is that your business will be forced to close.
Being On The List Is Not Permanent
Being on the MATCH list is not a permanent thing. This means that if you are able to improve your situation, you can eventually get off of the list. However, it is important to note that it can take time and effort to do so. Additionally, you may need to work with a high-risk processor or consider alternative forms of payment in the meantime.
If your business has been placed on the MasterCard MATCH list, it is important to take action quickly. This is because the longer you wait, the more difficult it will be to improve your situation. There are a few things that you can do, including working with a high-risk processor or considering alternative forms of payment. Additionally, it is possible to get removed from the list if you are able to improve your situation. Hopefully, this article has provided you with some helpful information. Thank you for reading!
