Apple Cash refund from Merchant

Getting a receipt for the return and processing the return are two different things.

When you return an item, the merchant provides a receipt for the item(s) returned and the details such as day, time, payment method returned to etc. So, in effect by receiving the returned items the transaction (return) was approved.

However, the merchant’s back office may hold the start of the transfer for several days. This allows the merchant to submit a batch of returns at one time. This is a cost savings measure. The batch is submitted to the credit card processor and the processor debits the funds from the merchant’s bank account and transfers funds to the respective credit card accounts. Once the processor has the funds, the transfer to your bank is 1 to 3 business days.

Apple and Apple Pay are not involved in the return process. The merchant’s credit card processor will directly deposit the funds into your Apple Cash account at Green Dot Bank.

https://applecash.greendot.com/termsconditions/

You used your Apple Cash prepaid debit card, correct? If so, once the merchant actually initiates transfer of the funds back, it’s 3 to 5 days. Some merchants hold transfers and only process returns once a week.