EMV POLICY STATEMENT
Effective October 15, 2015
Toast will reimburse Eligible Customers for up to $5,000 of EMV--related fraud transactions. “Eligible Customer or EC” is a Toast customer who ordered at least one EMV--capable payment terminal.
An Eligible Customer (EC) may only receive chargeback reimbursements under this Policy if all of the following additional conditions are satisfied:
- An EC is eligible for chargeback reimbursement only if the EMV--capable payment terminal was ordered for the location that incurred the chargeback
- The chargeback must be the result of fraud that would not have occurred had the charges in question been processed using EMV-compliant payment processing;
- EC must dispute the chargeback in accordance with all applicable bank and payment processor dispute policies by the date listed in the chargeback notice or within 30 days from chargeback report date, whichever is earlier
- EC must send Toast the chargeback dispute denial within 15 days of its receipt of the dispute denial and, in any event, prior to the Policy Expiration Date, whichever is earlier;
- EC must be current on all amounts owed to Toast under its Merchant Agreement and otherwise in compliance with all terms and conditions of its Merchant Agreement;
To dispute a chargeback, please follow instructions in your chargeback notice. To submit a denied chargeback dispute, please include documentation of the denial in a response to the associated chargeback notice email. For any questions in this process, please contact Toast Support at (617) 682-0225.
If an Eligible Customer incurs a higher rate of chargebacks than other similarly situated Toast customers, then upon notice, Toast reserves the right to withhold any additional reimbursements under this Policy. Toast has sole discretion in determining whether a chargeback is eligible for reimbursement under this Policy and any such determination by Toast is final. Fees, costs and any other expenses associated with any chargeback dispute are not covered under this Policy.
This Policy shall expire and Eligible Customers will no longer receive reimbursements for chargebacks on the earlier of (1) the date on which Toast makes EMV--compliant Services (as defined in its Merchant Agreement) available and (2) October 1, 2017 (the “Policy Expiration Date”).