Meaning
A refund is the return of money to a customer who is dissatisfied with a product or service, or for an overpayment.Definition
A refund is a sum of money paid back to a buyer. This typically occurs when an item is returned, a service is cancelled, or a transaction error is corrected.Types
Refunds can be full, partial, or issued as store credit. They may be processed back to the original payment method.Process
The process involves initiating a request, validating the reason, and then returning funds to the customer’s source account, often via methods like bank transfer or reversing a UPI Payment.Author
