Steam has made their marketplace a bit more user-friendly by streamlining the process of pre-order refunds. Customers will no longer need to contact Valve directly or wait for an email response in order to get their money back on an unreleased title. Because let's face it, we've all suffered buyer's remorse on a PC game that's coming out six months from now.
ValveTime has noticed the change, finding a "Refund an item" button available for any pre-order title. Customers exercising that option will receive an immediate refund to their Steam Wallet.
This only applies to pre-order games, as requests for refunds on current titles still need to get run by the Steam Support staff. This manual review policy is one that runs similar to recent return policies implemented by GOG and Origin in the last six months.
Valve's new pre-order refund policy, of course, does not apply to Early Access titles, as Valve explicitly stipulates, "Early Access is a full purchase of a playable game. By purchasing, you gain immediate access to download and play the game in its current form and as it evolves up and through 'release'."