Verb

ersetzten

Translation

to replace, to substitute, to compensate, to refund

Wir müssen die alte Batterie ersetzen.

We have to replace the old battery.

Nichts kann die verlorene Zeit ersetzen.

Nothing can replace the lost time.

Die Versicherung wird den Schaden ersetzen.

The insurance will compensate for the damage.

((sth.)) ((by/with sth.)) to replace sth. with/by sth. We are replacing the old system with a new one.

((sth.)) to compensate for sth. The company will compensate for the damage incurred.

austauschen (to exchange), vertreten (to represent); Antonym: behalten (to keep)

From 'er-' (prefix indicating achievement) + 'setzen' (to set, place). It means to successfully 'set' something in place of another.

Think of it as 're-set'. You are 'setting' a new item in the place of an old one, effectively replacing it.