According to an announcement from Microsoft posted on Reddit that was given to participants of the Xbox Insider Program, the company will soon implement a self-serve refund system for digital purchases from the Microsoft Store on both Windows 10 and Xbox One. This applies to both games and apps that have been used for either less than two hours or have been owned for less than two weeks.
To request a refund, you must navigate to account.microsoft.com, sign in to your account, and select payment and billing from the top menu bar. From there, you can view your order history and click a button that says "request a refund." These self-serve refunds are not yet available, but will be coming soon.
DLC, season passes, and game add-ons are not eligible for refunds, and the game must have been downloaded and launched prior to requesting a refund. Furthermore, you need to wait at least a day after the game's release before refunding the product. While refunds can apply to both games and apps, some Windows 10 apps may be excluded.
Microsoft also states that it has the right to block users should they be found to be abusing the refund program.
Steam has offered refunds for a couple years now, and it's a system that has worked pretty well as long as it's not abused. The conditions look like a pretty similar deal here. This is great if you bought a game that isn't running well, if you don't like a game or app, or are encountering issues. The question is, will PlayStation or Nintendo one day offer a similar system to compete?