払い戻す (haraimodosu) means “refund”

More examples

店は返品された商品の代金を払い戻します。mise wa hen pin sa re ta shō hin no dai kin o hara i modo shi ma su

The store will refund the price of the returned item.

Describes returning a payment so that the original financial transaction is undone.

返金するhenkinsuru: To give back money paid for a product or service.
返すkaesu: To give back money or another thing that was received.

受け取った代金などを相手に返すこと。u ke to tta dai kin na do o ai te ni kae su ko to

払い戻す (haraimodosu) is a native Japanese compound of 払う (harau, "to pay") and 戻す (modosu, "to put back"), meaning to put paid money back.

In travel and ticketing, 払い戻す (haraimodosu) commonly appears when a canceled service leads to the return of the fare.