MATCH list and TMF: a UK merchant's guide
The MATCH list (Member Alert to Control High-Risk Merchants), historically called the Terminated Merchant File, is Mastercard's global database of merchants whose accounts have been terminated. UK acquirers check it on every new application. Listings stay for 5 years. There are 13 reason codes; UK removal routes vary by code.
What MATCH is, in one paragraph
MATCH is a private Mastercard-operated database. When a UK acquirer terminates a merchant for one of 13 specific reasons, the acquirer is required by Mastercard scheme rules to add the merchant (and the principals, directors and controlling shareholders) to MATCH. Every other Mastercard acquirer can then see that listing when underwriting a new merchant application. In practice it operates as a 5-year industry blacklist. Visa runs a parallel system (VMSS) but MATCH is the one most cited in UK underwriting because it is older and more widely populated.
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. |
If you have been listed in error
UK route, in order:
- Get the listing acquirer to confirm the code in writing.
- Submit a written dispute to the acquirer's complaints team. They have 8 weeks to respond.
- If unresolved or rejected, escalate to the Financial Ombudsman Service. The FOS does not remove MATCH listings directly but can order the acquirer to remove if the listing was wrong.
- For identity-theft cases (code 14), file an Action Fraud report alongside.
High-risk-acquirer route (post-listing trading)
If you need to keep trading while listed, specialist UK high-risk acquirers will sometimes underwrite, at high-risk pricing (3% to 6%+ blended typical, plus rolling reserve, plus higher chargeback fees). Underwritability varies materially by code: code 14 (identity theft, resolved) is straightforward; code 04 (excessive chargebacks) is hard. See our high-risk verticals guide for the UK acquirer panel that takes this work.
UK editorial note
Most search results on MATCH are US-sourced. UK rules differ in three ways. First, the Financial Ombudsman Service gives UK merchants a free escalation route that US merchants do not have. Second, UK insolvency law gives directors a clean documentary trail (closure certificate from the Insolvency Service) that strengthens code-09 removal requests. Third, UK Action Fraud reporting via the National Fraud Intelligence Bureau is the documentary anchor for code-14 disputes. We have written this page UK-first because the US guides do not cover any of the three.
Frequently asked questions
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.
How long does a MATCH listing stay in place?
Five years. The record is automatically removed at the five-year point unless the listing acquirer takes it off sooner, which is rare.
How do I find out if I am on it?
You cannot search MATCH directly. The two routes are: (1) ask any acquirer that has just declined your application to confirm whether MATCH was the reason and which code; (2) if you suspect a wrongful listing, raise a complaint with the listing acquirer in writing, and if unresolved, escalate to the Financial Ombudsman Service.
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.
Can I get off the MATCH list early?
Only the listing acquirer can remove an entry early. Realistic routes: prove the listing was a factual error (wrong merchant, wrong codes), prove identity theft (code 14), or settle outstanding chargeback / scheme fees and ask the acquirer to reconsider. Most code-04 listings stay for the full 5 years.
Are there UK acquirers that work with MATCH-listed merchants?
Yes, but at high-risk pricing. Specialist UK high-risk acquirers will sometimes underwrite MATCH-listed merchants depending on the reason code. Codes 01, 02, 09 (resolved), 10 and 14 (identity theft) are more underwritable than codes 04, 05, 11 or 13.
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.
Need a UK high-risk acquirer?
We can match MATCH-listed UK merchants to acquirers who underwrite by reason code. No obligation, no upfront fees.
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Oliver leads AcceptCard's editorial and comparison research. With a background in UK commercial finance, he oversees provider analysis, rate verification, and industry reporting across all verticals.
Last reviewed: 7 May 2026