In a large skillet, heat olive oil over medium heat. Stir in scallions and yellow pepper and start to cook 2 minutes. Add in ground beef and break apart in the pan as it browns. Once completely browned, stir in taco seasoning and water. Stir to incorporate and cook until most of the water has evaporated.
Heat refried beans in microwave safe bowl.
To assemble, place tortilla rounds onto a serving platter. Spread about 1 tablespoon of refried beans onto each chip. Add 1 tablespoon of meat onto beans and press into the beans to help it stick. Top with grated cheese, diced tomato, sour cream and cilantro. Serve immediately.