Business owners who operate and rely on credit card sales through a merchant account have likely all heard of the initials TMF. What exactly is TMF though, what does it stand for and what does it mean to your business?
The terminated merchant file does not need to be as complicated as you need to make it out to be. In a sense, the terminated merchant file is a banned list. The terminated merchant file is a repository of all merchant accounts that have been blacklisted by a financial institution, meaning that you can not do any credit card processing with the merchant account that is in question and is on this list.
Financial institutions are constantly monitoring everything that they process whether it be a credit card payment processed by Visa and, or Mastercard. Once they detect something that they consider to be against the rules or in violation, they will call you on it. They will not let you know of the wrongdoing though, instead they will simply add you to the terminated merchant file. When they do this, you are on this naughty list in a sense where you can no longer process credit card payments.
Solidtrustpay is known as a merchant account operator, just as other operators will do, who will be sure to operate merchant accounts in such a way that you will not get on this list. If you do, solid trust pay will be reliable as you reach out to the financial institution to get removed.