In payment processing, what primarily defines a future service?

A future service in payment processing is primarily defined by the notion that the complete service or product is not delivered at the time of the sale. Instead, it involves a scenario where the service or product will be fully provided at a later date. This aligns with the concept of a “future service,” where the customer pays upfront or at the time of purchase but receives the complete fulfillment or delivery at a future point.

The option referring to partial delivery recognizes instances where some aspect of a service or product might be made available immediately, but the essence of a future service is characterized by the expectation of completion down the line. This distinction is crucial, especially in terms of how merchants manage their cash flow and customer expectations.

In contrast, the other options either pertain to immediate transactions (delivery at the completion of payment or physical location sales) or address terms of service (refunds and cancellations), but they do not embody the key component that defines a future service as effectively as the option indicating partial delivery at the time of sale. Thus, option C captures the fundamental nature of a future service in the payment processing landscape.