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Refund

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 ONLINE PAYMENT GLOSSARY

  • Online shop
  • Virtual Payment Terminal
  • Check out
  • Internet Merchant Account
  • Chargeback
  • CVV2
  • Secure payment gateway
  • Refund
  • Shopping cart
  • SSL : Secure Socket Layer
  • IPSP


  • Refund

    A refund takes place when a client returns a product or service that he/she has ordered, for example exercising his/her right to return goods or in the case of a faulty product. It is possible to process partial refunds if, for example, just one part of the order has been delivered.