It is the return of a sum of money to the person who had delivered it, for example, because he has returned some products. If the payment has been authorized, but has not yet been captured, the merchant can simply make an online repayment (or cancellation). But if it has already been authorized, then a refund is made.
There are two types of refunds:
Partial: only part of the money paid is returned. In Kushki they are available in Colombia 🇨🇴, Peru 🇵🇪 and Chile 🇨🇱
Totals: the total amount of the original payment is returned to the cardholder's account.
Refunds can take up to 7 business days to process and up to a maximum of 45 business days to appear on your customer's bank statement, depending on the card-issuing bank.