A partial refund or reduction in price; money returned to a customer after purchase. A discount given after the initial transaction is completed.
From Old French rabattre meaning 'to beat down, reduce,' from re- 'back' plus abattre 'to beat down.' The commercial sense developed from the idea of beating down or reducing a price.
Rebates represent a fascinating psychological pricing strategy - they feel like 'found money' even though customers pay full price initially. The word's etymology of 'beating down' captures the aggressive negotiation implied in getting money back.
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