Definition

Refund Rate is a cohort chart that indicates the percentage of transactions that were refunded out of the total paid transactions billed during the selected period.

The formula is as follows:

Refund Rate = (Refunded Transactions / All Transactions by the Period) × 100%

For instance, if 100 transactions were billed to customers in November and 15 of them were refunded later, then the refund rate is 15%.