What is the translation for the term 'refund'?

The term 'refund' is correctly translated to 'reembolso' in Spanish. This term is specifically used to describe the process of returning money to someone, typically because a purchase was returned or there was an overpayment. The use of 'reembolso' conveys the exact concept of reimbursing funds to a customer, making it the most accurate translation.

The other terms do not match this meaning. 'Pago' translates to 'payment,' which refers to the act of giving money for goods or services, rather than the return of money. 'Seguro' means 'insurance,' and while it relates to financial transactions, it is not relevant to the concept of a refund. 'Contrato' translates to 'contract,' which refers to an agreement between parties, again not relating to the context of returning funds. This distribution of meanings highlights why 'reembolso' is the correct choice for translating 'refund.'