Replacing

verb

1. To restore to a former place, position, condition, etc.; to put back

   "When you've finished using the telephone, please replace the handset."

2. To refund; to repay; to pay back

   "You can take what you need from the petty cash, but you must replace it tomorrow morning."

3. To supply or substitute an equivalent for

   "I replaced my car with a newer model."

4. To take over the position or role from.
5. To take the place of; to be used instead of

   "This security pass replaces the one you were given earlier."