Lava Rewards Program Terms & Conditions

LAVA REWARDS PROGRAM TERMS AND CONDITIONS

Applicable to U.S. and International Cardholders

Last Updated: June 4, 2026

These Rewards Program Terms and Conditions (these “Rewards Terms”) govern your participation in the rewards program offered by Lava in connection with your Card (the “Rewards Program”). The Rewards Program is offered by Lava, which for purposes of these Rewards Terms means Lava Global Inc. for U.S. cardholders and Lava Global Inc. for international cardholders (together, “Lava,” “we,” “us,” or “our”).

These Rewards Terms are a separate agreement between you and Lava. They are not part of, and are not incorporated into, the card agreement between you and the Issuer (the “Card Agreement”). The Issuer and its affiliates are not parties to these Rewards Terms. In the event of any conflict between these Rewards Terms and your Card Agreement, your Card Agreement governs, except with respect to matters specifically relating to the Rewards Program, in which case these Rewards Terms govern. 

The Rewards Program is offered solely by Lava. The issuer of your Card (the “Issuer”), its affiliates, and the applicable card network (including Visa) are not affiliated with, do not sponsor or endorse, and are not responsible for the Rewards Program, except that any benefits provided directly by the card network under your Card’s network-level benefits are governed by the separate terms of that card network as described in Section 8.

All capitalized terms not defined in these Rewards Terms have the meanings given to them in your Card Agreement. By activating your Card, making purchases with your Card, or otherwise participating in the Rewards Program, you acknowledge that you have read, understood, and agree to be bound by these Rewards Terms. If you do not agree, you must not participate in the Rewards Program.

1. Eligibility

To be eligible to earn rewards under the Rewards Program, you must (a) have an active Card and maintain your Card account in good standing in accordance with your Card Agreement; (b) have completed any identity verification and onboarding required by Lava or the Issuer; and (c) not be a resident of, or located in, any jurisdiction in which Lava has restricted or prohibited access to the Rewards Program or the Card. Lava may determine, in its sole discretion, whether your Card account is in good standing for purposes of the Rewards Program. You are not eligible to participate while your Card account is suspended, restricted, or closed, or while you are in breach of your Card Agreement or these Rewards Terms.

2. Definitions

• “Bitcoin Reward” means a reward earned under the Rewards Program and paid in bitcoin (BTC), as further described in Section 3.

• “Eligible Purchase” means a settled purchase of goods or services made with your Card that qualifies to earn rewards under these Rewards Terms, excluding any Excluded Transaction and net of any return, refund, reversal, or credit adjustment.

• “Excluded Transaction” means any transaction that does not qualify to earn rewards, including the transaction types and merchant category codes described in Section 3.4 and Schedule A.

• “Promotional Reward” means an enhanced, bonus, or limited-time reward offered at select merchants or for select transactions, as described in Section 3.5.

• “Reward” means any Bitcoin Reward or other reward, benefit, or incentive made available to you under the Rewards Program.

• “Reward Rate” means the rate, expressed as a percentage of the value of an Eligible Purchase, at which Rewards are earned, as described in Section 3.1 and as published by Lava from time to time.

3. Earning Rewards

3.1 Reward Rates

Subject to these Rewards Terms, you may earn Rewards on Eligible Purchases at the Reward Rates published by Lava from time to time. As of the date of these Rewards Terms, the standard and promotional Reward Rates are as follows:

All Reward Rates are expressed as “up to” the stated percentage. The applicable Reward Rate for any given transaction depends on your cardholder region, the merchant, the merchant category, any applicable promotion, and the other terms of the Rewards Program. Reward Rates are maximums, not guarantees, and the actual Rewards you earn may be lower. Lava may set, vary, increase, reduce, or withdraw Reward Rates (including for particular regions, merchants, merchant categories, or promotions) at any time in accordance with Section 11.

3.2 Form and Valuation of Rewards

Rewards are paid in bitcoin (BTC). The U.S.-dollar value used to determine the amount of bitcoin credited as a Reward is calculated at the time of distribution using on-chain price oracles or other reliable pricing sources selected by Lava in its sole discretion. The value of bitcoin is volatile and may fluctuate significantly; the value of any Bitcoin Reward at the time you receive, hold, or dispose of it may be more or less than its value at the time of the related Eligible Purchase. Lava does not guarantee the value of any Bitcoin Reward. Lava reserves the right to change the reward asset, pricing methodology, distribution method, or payout frequency at any time, and will provide notice of any such change where required by applicable law or your Card Agreement.

3.3 When You Earn Rewards

You begin earning Rewards once you have activated your Card and begin making Eligible Purchases. Rewards are calculated on Eligible Purchases only. A pending or unsettled transaction does not earn Rewards until it has fully settled. Rewards are credited provisionally and remain subject to verification, adjustment, reversal, and clawback as described in Sections 5 and 6. Lava may, in its sole discretion, grant Rewards even where a transaction would not otherwise qualify.

3.4 Excluded Transactions and Merchant Category Codes

Certain transactions do not earn Rewards, regardless of whether they would otherwise qualify. Excluded Transactions include, without limitation: ATM and cash-advance transactions and other cash or cash-equivalent transactions; wire transfers, money orders, and traveler’s cheques; person-to-person and peer-to-peer transfers (for example, transfers funded through digital wallets); stored-value loads and digital-wallet funding; the purchase of gift cards, cryptocurrency, or other cash equivalents; currency-exchange transactions; brokerage, securities, and investment transactions; gambling, betting, and lottery transactions; tax payments and other government payments, fines, and penalties; insurance premiums; and any transaction classified under an excluded merchant category code (“MCC”).

The excluded MCCs are set out in Schedule A, which is incorporated into these Rewards Terms by reference. The list of Excluded Transactions and excluded MCCs is illustrative and not exhaustive. Lava reserves the right, at its sole discretion and without prior notice, to add or remove transaction types or MCCs from the exclusion list at any time. An up-to-date exclusion list will be made available by Lava and supersedes Schedule A to the extent of any inconsistency.

3.5 Promotional Rewards

From time to time, Lava may offer Promotional Rewards — including enhanced Reward Rates of up to 5% back in bitcoin — at select merchants, for select merchant categories, or for select transactions, in each case subject to the specific terms communicated at the time of the offer. Promotional Rewards may be subject to additional or stricter eligibility criteria, caps, and shorter validity periods, and may differ by region and by cardholder. Lava may introduce, modify, suspend, or withdraw any promotion at any time and without prior notice, except that Rewards already validly earned under a promotion before its withdrawal will not be affected.

3.6 Caps and Holding Periods

Lava does not currently impose a maximum monthly cap on the Rewards you may earn, and does not currently impose a holding or time-lock period before earned Rewards become available. Lava expressly reserves the right, however, to introduce, at any time and in its sole discretion, (a) a maximum amount of Rewards that may be earned per transaction, per day, per statement period, per month, or over any other period; and (b) a holding, time-lock, or clearance period during which earned Rewards are recorded but are not yet available for withdrawal or use. Lava will publish any such cap or holding period if and when introduced, and any cap or holding period will apply prospectively in accordance with Section 11.

3.7 No Stacking

Unless Lava expressly states otherwise, Rewards may not be combined, stacked, or accrued under more than one program or promotion in respect of the same transaction. Where more than one Reward Rate or promotion could apply, Lava will determine in its sole discretion which applies.

4. Crediting, Tracking, and Use of Rewards

The Rewards you earn will be reflected in your Card account or associated Lava account and viewable through the Lava application. Subject to any holding period that Lava may introduce under Section 3.6, Bitcoin Rewards are credited following settlement of the related Eligible Purchase. Rewards are not legal tender, are not insured deposits, and may not be transferable except as permitted by Lava. Lava may place a hold on, delay, or decline the crediting, withdrawal, or use of Rewards where it has reasonable grounds to suspect fraud, abuse, or a breach of these Rewards Terms; where a related transaction is pending, disputed, or subject to clawback; where your Card account is under review; or where required by applicable law or your Card Agreement.

5. Refunds, Disputed Transactions, and Chargebacks

If a transaction for which a Reward was earned is later returned, refunded, canceled, reversed, disputed, or charged back, the related Reward (or the proportionate portion of it attributable to the refunded or disputed amount) is no longer earned and is subject to reversal and clawback under Section 6. This applies regardless of the reason for the refund or dispute and regardless of whether the Reward has already been credited or used. Where a transaction becomes the subject of a dispute or chargeback, Lava may place a hold on the related Reward pending resolution, and may reverse the Reward if the matter is resolved against you or results in a refund. Lava’s determination of whether and to what extent a Reward is affected is final, subject to any rights you have under applicable law.

6. Reversal and Clawback of Rewards

Lava may, in its sole discretion, reverse, cancel, withhold, or reclaim all or part of any Reward (whether pending, credited, or already used) in any of the following circumstances:

• a return, refund, reversal, cancellation, dispute, or chargeback affecting the related transaction, in whole or in part;

• the Reward was obtained through fraud, abuse, manipulation of the Rewards Program, use of multiple or unauthorized accounts, or exploitation of a system error;

• the Reward was credited in error or in an amount exceeding your actual entitlement, including as a result of a technical fault, miscalculation, or manifest error;

• you have breached these Rewards Terms or your Card Agreement in a manner affecting your entitlement to the Reward; or

• Lava is required to recover the Reward by applicable law, regulation, court order, or the direction of a governmental or regulatory authority.

To effect a reversal or clawback, Lava may, without prior notice except as required by applicable law, deduct the affected Reward from your unredeemed Rewards, reduce future Rewards, debit your Card account or associated Lava account by the USD-equivalent value of the affected Reward (determined at the time of the original transaction or at the time the clawback is initiated), or reduce a refund amount by that value. Where Rewards have been withdrawn or transferred and cannot be recovered from your account, you agree to repay the USD-equivalent value to Lava within fourteen (14) calendar days of written notice. Lava is not obligated to honor any Reward that a reasonable person would have known resulted from a manifest error or system malfunction.

7. Fraud and Program Misuse

You must not engage in any conduct designed to manipulate, exploit, or abuse the Rewards Program, including creating multiple or unauthorized accounts, exploiting system errors, coordinating with others, using bots or scripts, structuring transactions (for example, repeated small-dollar transactions at a single merchant), or initiating bad-faith refunds or chargebacks to generate Rewards. If Lava suspects, in its sole discretion, that you have engaged in fraud or misuse, Lava may suspend or terminate your participation in the Rewards Program (temporarily or permanently), disqualify affected transactions, withhold or reverse affected Rewards, and suspend or terminate your participation in the Rewards Program and request that the Issuer take appropriate action with respect to your Card account in accordance with your Card Agreement. Lava may review your activity at any time for compliance with these Rewards Terms.

8. Other Card Benefits

The Rewards Program is separate from any additional benefits, services, or protections that may be available through the applicable card network or your Card. For information about any such benefits, refer to your Card Agreement and the applicable card network's terms. Lava is not responsible for any benefit provided by the card network or any other third party. 

9. Taxes

You are solely responsible for determining and satisfying any tax obligations arising from Rewards you earn, hold, or dispose of, and for obtaining appropriate tax treatment. Lava does not provide tax advice and will not report income or earnings related to Rewards to any taxing authority except where required by applicable law.

10. No Investment Advice; Risk Disclosure

Nothing in these Rewards Terms constitutes financial, investment, legal, or tax advice, or a recommendation or offer to buy or sell any digital asset or financial product. Bitcoin and other digital assets are volatile, and their value may decline significantly, including to zero. You acknowledge that you bear the full risk of any change in the value of any Bitcoin Reward and that you do not participate in the Rewards Program for investment purposes. You should seek independent professional advice before making decisions based on the value of any Reward.

11. Changes to the Rewards Program

Lava reserves the right, at any time and in its sole discretion, to modify, suspend, or discontinue the Rewards Program or any feature of it; to change Reward Rates, the form, asset, or valuation of Rewards, eligibility and qualifying criteria, Excluded Transactions and excluded MCCs, and any caps or holding periods (including introducing them under Section 3.6); and to impose new or additional conditions, restrictions, or limitations. Where a change is to your disadvantage, Lava will provide advance notice to the extent required by applicable law or your Card Agreement (and, where so required, at least thirty (30) days’ notice); a change that is to your advantage or that is required by law may take effect immediately. Notice may be given through the Lava application, by email, on your statement, or by posting updated Rewards Terms. Your continued participation in the Rewards Program after a change takes effect constitutes your acceptance of the change.

12. Termination

Lava may terminate the Rewards Program, or your participation in it, at any time. If your Card account is suspended, terminated, or closed, or if your Card Agreement terminates, your participation in the Rewards Program ends immediately and any Rewards that have not been credited at that time may be forfeited without compensation, except as otherwise required by applicable law. If Lava discontinues the Rewards Program generally, it will provide notice and, where reasonably practicable, a period during which validly earned and available Rewards may be used.

13. Limitation of Liability

To the maximum extent permitted by applicable law, Lava and its affiliates and service providers will not be liable for any loss arising from fluctuations in the value of Rewards; expiry, forfeiture, reversal, or clawback of Rewards; technical errors, delays, or system outages affecting the Rewards Program; tax liabilities; or any indirect, incidental, special, consequential, or punitive damages, in each case arising out of or relating to the Rewards Program. Nothing in these Rewards Terms excludes or limits any liability that cannot be excluded or limited under applicable law.

14. Indemnification

To the extent permitted by applicable law, you agree to indemnify, defend, and hold harmless Lava and its affiliates from and against any claims, liabilities, damages, losses, and expenses arising out of or related to your breach of these Rewards Terms, your fraudulent or abusive conduct, your violation of applicable law, or your tax obligations in connection with Rewards.

15. Governing Law and Dispute Resolution

Any dispute arising out of or relating to the Rewards Program is between you and Lava only. The Issuer and its affiliates are not proper parties to any such dispute and may not be named as respondents in any arbitration, litigation, or other proceeding relating to the Rewards Program.

16. General

These Rewards Terms, together with your Card Agreement and any program- or promotion-specific terms, constitute the entire agreement between you and Lava regarding the Rewards Program. If any provision is held invalid or unenforceable, the remaining provisions remain in full force and effect. No failure or delay by Lava in exercising any right operates as a waiver. You may not assign your rights or obligations under these Rewards Terms without Lava’s consent; Lava may assign its rights and obligations at any time. These Rewards Terms are drafted in English, and the English version prevails over any translation.

Schedule A — Excluded Merchant Category Codes

Transactions in the following merchant categories are configured to earn rewards at a rate of 0% — that is, they do not earn Rewards — even though such transactions are otherwise permitted on your Card. This is separate from any merchant or transaction that is blocked from your Card entirely. The categories below are identified by their merchant category code (MCC). This list is illustrative and not exhaustive, and Lava may update it from time to time as described in Section 3.4.