Unexpected Refund

Description

I have sent a payment from my credit card and it was successful and my card was charged. By the following morning, I noticed the payment was flagged refunded to my bank account. However, I am yet to see the funds reflecting in my bank account. I do understand this could take some time but I am really concerned as to why this happened. The receiver was notified that there was a payment that has been canceled. I am nowhere near my credit limit so that could not be an issue.