Refund
A refund returns money to the buyer at the merchant's initiative, unlike a chargeback, which is started by the buyer's bank.
The merchant decides to return the money, in full or in part, through the provider's dashboard or API. Funds go back to the card or account used to pay; how fast they arrive depends on the bank and the payment method.
The key difference from a chargeback: a refund is a voluntary merchant action, with no dispute, no chargeback fee and no effect on the dispute ratio. That is why a quick, clear refund is often cheaper than waiting for the customer to go to their bank.
The fee on the original payment is usually not returned, or only partly — it depends on the provider contract. For instant transfers and pay-by-bank payments, a refund is a separate transfer from the merchant to the customer.
Related terms
Can't find your GEO?
Submit a request — an operator will check providers that are not yet listed in the public catalog.