Yes, you can manage the offline refund requests in Magento 2.

All you need to do is follow these steps:

Step. 1 Go to the Sales -> Credit Memo section in the admin panel.

Step. 2 Then, under Credit Memo, update the quantity to refund the product.

Step. 3 Save the request to generate the refund.

You can use our Magento 2 Store Credit Extension to offer store credit to your customers.

Read this How to Configure Store Credit Extension in Magento 2 Store to setup this extension.

Here are the few more resource to help you get most out of this Magento 2 Store Credit Extension.

• Maximizing revenue with Magento 2 Store Credit Extension
• Raise Loyalty & Returning Visitors with Magento 2 Store Credit Extension
• Store Credit in eCommerce: A Key to Customer Retention