Credit, Return, or Refund

A Credit, Return, or Refund refers to the procedure of returning funds to a customer’s account following a previous transaction. This could be instigated by a variety of circumstances, including the following:

  • customer dissatisfaction
  • a returned item
  • an error in the original transaction

The refund process typically entails the merchant submitting a request to their payment processor to transfer the funds back to the customer’s account.