The phrase "rewind feature" refers to a function or ability that allows you to go back or reverse the action, like in a video or audio, to view or listen to it again from an earlier point. Full definition
Perks: You get Citi's Price Rewind feature which reimburses you the difference if something you bought is lower in price. (bankingsense.com)
One neat feature, that kind of feels like cheating, is a nifty rewind feature for those times when you may have taken a corner too fast and wiped out or just ran off the track. (terminalgamer.com)
A handy new Rewind feature gives players the option to instantly reverse gameplay, correcting unexpected pitfalls or deadly enemy encounters (nintendo.co.uk)