What is the difference between a full refund and a partial refund?

Full Refund

If your refund is for the full transaction amount you had with the merchant, you will receive a full refund. Pace will automatically cancel your outstanding instalments so that you will no longer be charged for the transaction. 

Example: If your transaction amount is $900 and you have paid the first instalment ($300)

Partial Refund

Depending on the situation, your merchant could also raise a partial refund instead of a full transaction amount. In case of a partial refund, Pace will automatically adjust your payment schedule by reducing your instalment amounts and/or initiating a refund back to your card, as and when required. The adjustment will always start from your final instalment and commute upwards. 

Example: If your transaction amount is $900 and your merchant raised a partial refund request of $400, assuming if your instalment amount is $300 each

• The amount cancelled in 3rd instalment ($300) and adjusted 2nd instalment ($100) add up to the refund amount ($400).
• You will not receive a refund back to the card you used to complete the transaction.