As the Ingenico iCMP devices available to Toast customers are now capable of supporting EMV payments, we are updating our chargeback policy (as outlined further below). We will be offering limited reimbursement coverage to eligible customers according to the terms below for certain transactions processed through November 1, 2018.

What is the new policy and eligibility terms?

During the term of this new policy, Toast will offer eligible customers a maximum lifetime reimbursement of up to $2,500 for EMV-related fraud chargebacks meeting all of the criteria described in the policy, including without limitation:

  1. The chargeback must originate on an eDynamo card reader; no card reader other than eDynamo is eligible for reimbursement under this policy. Chargebacks on iCMP devices are no longer eligible for reimbursements as these devices are capable of supporting EMV payments.
  2. The chargeback must be associated with a customer location that is using an iCMP reader in EMV mode and has processed at least one EMV transaction on the Ingenico iCMP device within 30 days of the fraudulent charge in question. (For chains, any location that wishes to submit a claim under this policy must purchase and use an iCMP reader provided by Toast).
  3. The chargeback must be "EMV related" (i.e. EMV chargebacks will have one of the following codes: 4870, 4871, 10.1, 10.2, UA05, UA06, F30, F31).
  4. The customer must have disputed the chargeback with the cardholder's bank within 30 days of the chargeback report date.
  5. Customer must have forwarded to Toast the chargeback dispute denial within 15 days of Customer receipt thereof.
  6. The customer location has not exceeded $2,500 of total Toast-reimbursed chargebacks in their lifetime.
  7. The transaction must be processed on or before November 1, 2018 to be be eligible for this policy.

This policy is non-transferable and cannot be assigned. Toast reserves the right in its sole discretion at any time to amend, modify or terminate this policy at any time.

PLEASE NOTE: For American Express EMV-related chargebacks, the customer still has to actively dispute the chargeback (as with Visa/Mastercard/Discover). If the dispute is denied, they need to present to Toast the letter from American Express informing them of the dispute denial before they will be reimbursed.

Read full policy details here.