Glossary Terms Starting with R

Refund

A refund is a new financial transaction that returns all or part of an eligible payment to the customer or original funding…

Refund Abuse

Refund abuse is the intentional misuse of refund policies or processes to obtain value that is not legitimately owed. Examples include false…

Refund Address

A refund address is the destination identifier used to return funds, commonly a blockchain address for a specified asset and network. It…

Refund Address Ownership

Refund Address Ownership is evidence that the party requesting a crypto refund controls or is authorized to use the proposed destination address.…

Refund Address Risk Check

A refund address risk check evaluates the blockchain destination proposed for a cryptocurrency refund before funds are returned. It assesses sanctions, illicit-finance,…

Refund Alert

A refund alert is a notification generated when refund activity meets a defined operational, financial, fraud, or service condition. It can flag…

Refund Amount

Refund amount is the value selected for return against an eligible original payment. Systems must distinguish requested, approved, gross, fee-adjusted, converted, sent,…

Refund API

A refund API lets authorized software request, inspect, and track the return of funds for a previously completed payment. Refund API must…

Refund Automation

Refund automation uses rules and software to prepare, approve, submit, monitor, communicate, and reconcile customer fund returns with less manual work. Refund…

Refund Callback

A refund callback is an asynchronous server-to-server notification reporting a change in a refund request’s processing or settlement status. Refund Callback must…

Refund Confirmation

Refund confirmation is the evidence or decision that a refund reached a defined processing, network, recipient, or settlement threshold. The confirmation source…

Refund Currency

Refund currency is the fiat currency or digital asset in which returned value is denominated or delivered. It may differ from pricing…

Refund Eligibility

Refund eligibility is the determination that a payment, customer, amount, reason, timing, and destination satisfy the applicable rules for a refund. It…

Refund Fee

A refund fee is a charge associated with creating, processing, converting, or delivering a refund. The original payment fee may also be…

Refund Fraud

Refund fraud manipulates refund processes to obtain money, goods, credits, or duplicate reimbursement without a legitimate entitlement from a merchant. A fraud…

Refund Network

Refund network is the payment rail or blockchain used to return value to a customer. It can be required to match the…

Refund Policy

A refund policy defines when customers can receive returned value and how requests are evaluated and executed. It covers eligible products or…

Refund Processing

Refund processing is the operational handling of a refund from eligibility and approval through destination validation, amount calculation, submission, confirmation, settlement, notification,…

Refund Processing Pipeline

Refund Processing Pipeline is the controlled sequence of eligibility checks, approval, routing, execution, monitoring, and accounting used to complete refunds. It governs…

Refund Rate

Refund rate is the proportion of payment activity that is refunded within a defined population and time window. It can be measured…

Refund Receipt

A refund receipt is a record provided to document that a refund was created or completed for a defined original payment. It…

Refund Reconciliation

Refund reconciliation compares approved refund obligations and internal records with provider results, bank or blockchain movements, fees, reversals, settlement adjustments, customer outcomes,…

Refund Request

A refund request is an instruction asking a payment provider or merchant system to return some or all funds from an earlier…

Refund Settlement

Refund settlement is the transfer and posting of value that completes the financial obligations created by a refund between customer, merchant, provider,…