Refund requires the merchant to apply for a refund from the acquiring institution, and then the acquiring institution will manually adjust the account. It usually takes about 10 days to return the card.

Generally, there is no handling fee for refund, but it still depends on the policy of the bank to which the POS machine belongs.

Let's expand the difference between "cancellation" and "refund" of POS machines here:

Return goods "means" return goods every other day ",which is applicable to batch transactions on other days, that is, after the transaction has been cleared, customers return goods for other reasons. This function needs to be filed separately in the bank. It takes 3-5 working days to refund to the customer account. Returns support partial returns (that is, the return amount can be less than or equal to the original consumption amount) and multiple returns.

"Cancellation" means "cancellation on the same day", which is applicable to batch transactions on the same day, that is, the settlement time has not passed or manual settlement has not been made after the transaction. Cancellation must be made in full, and the cancelled amount will be paid immediately or delayed for 5- 10 minutes.