Are Toast’s Early Termination Fees Usurious or Expected?

In the payments and POS industries the Early Termination Fee, frequently abbreviated as ETF, is the price a merchant pays for cancelling their agreement before the term is due. Sadly it is common that merchant acquirers lock merchants into 3-year or longer terms, whereby the processor hoses the merchant on monthly fees. The hapless merchant has no recourse until the term ends, or they may terminate early “for cause” and stress the pending litigation of the acquirer if they refuse to pay the fees, as we’ve shown before.
A growing number of processors are moving above board on these practices, though, so there is a silver lining.

Click here to read more of this article