Remove the selected options :
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$('#mySelect2').val(null).trigger('change');
============================================
Completly remove the select2 initialization :
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$('#payment_method').html('').select2({data: [{id: '', text: ''}]});
$('select2element').val(null).trigger("change")
$("#customers_select").val('').trigger('change')
$("#mySelect2").select2({
allowClear: true
});
$('ClassOrIDName').prop('selectedIndex',0);
// this works perfectly. just put this in any action and your 1st option should be 'select one item' type
$("ClassOrIDName").trigger("change");