Toast Credit Card Processing – Rate Increases and Updates (2024)

Last Updated: July 15, 2024

Toast is a restaurant POS (point-of-sale) system. In addition to its POS software, Toast also provides payment processing as an integrated solution with its platform.

If you’re using Toast for payment processing, this resource will keep you up to date on the last fees, rate changes, and price increases.

Toast is Increasing Processing Rates in September 2024

Toast just sent out a notification to its existing restaurants to notify them of a rate hike around the corner. Effective September 1, 2024, Toast is increasing its processing rates by 0.23% per transaction. 

The rate increase applies to all card-present Visa, Mastercard, and Discover transactions. 

This is something that we’ve been anticipating. In fact, earlier this year Toast announced its plans for small rate increases beginning in the second half of 2024. I just wrote about this in my full review of Toast for payment processing. So this is likely the first of several increases we’ll be reporting between now and the end of the year.

If you receive a notice from Toast about your rates going up, please contact our team here at Merchant Cost Consulting for assistance. 

Toast $0.99 Order Processing Fee Update

NEW UPDATE: As of July 19, 2023, Toast announced its decision to remove the $0.99 customer ordering fee.  

Toast previously added a new $0.99 “order processing fee” to all orders $10 or higher placed through Toast’s online ordering platform.

This was a consumer-facing charge, but it did not appear as its own line item on customer receipts. Instead, it was included in the “taxes and fees” portion of the customer receipt. If the customer clicked to expand, they’d see order processing fee listed on its own.

But less than a month after the rollout, Toast reversed its decision to implement the fee.

Toast Interchange Rate Increases

As of 12/1/22, Toast increased its credit card processing rates by 0.15%.

Merchants affected by this increase have the option to pass a $0.99 Order Processing Fee to customers on orders of $10 or more.

If you do nothing, the rate increase will automatically be applied to your transactions. If you wish to pass along a $0.99 fee to your customers, you’ll need to reach out to Toast or click the link in your email that notified you of the increase.

About Toast

Toast is a Boston-based restaurant POS software company. They provide all-in-one point-of-sale solutions with integrated management tools and payment processing.

Founded in 2011, Toast currently has over 85,000 restaurants using its services.

The company provides kitchen display systems, ordering kiosks, online ordering solutions, handheld POS systems, and more.