Refund
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Refund
A refund is a transaction where a merchant returns funds to the customer. If a customer is dissatisfied with a product or service for any reason, they can request a refund from the seller. The seller then initiates a refund transaction to the same payment card or alternative payment method that was used for the original purchase.
A refund is a voluntary return of funds (reverse transaction) from the merchant to the payer for the goods which did not suit him in terms of size, quality or for other reasons.