What is a Refund?

What is a Refund?

A refund entails the process of reimbursing funds to a customer who has expressed dissatisfaction with their purchase, whether due to receiving a defective item, cancelling their order, or encountering issues such as incorrect or unauthorised transactions.
Providing timely refunds is a strategic approach to minimise the occurrence of chargeback requests, which can be more expensive and entail potential penalties for businesses.