Also means
reimburse
Usage Note
ersetzen means to replace one thing with another, taking the construction etwas durch etwas ersetzen. In a legal or financial sense it means to reimburse or compensate, as in den Schaden ersetzen (to make good the damage).
Examples
"Wir müssen die Batterie ersetzen."
Natural Translation
We have to replace the battery.
Literal Translation
We must the battery replace.

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