General Terms of Business

Last updated date: 22.04.2025.

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Please read these General Terms and Conditions carefully. These General Terms and Conditions contain important information about your rights and obligations regarding the Lova wallet service. During the registration process, you must accept these General Terms and Conditions and are obliged to use the service in accordance with these General Terms and Conditions.Please read these General Terms and Conditions carefully. These General Terms and Conditions contain important information about your rights and obligations regarding the Lova wallet service. During the registration process, you must accept these General Terms and Conditions and are obliged to use the service in accordance with these General Terms and Conditions.

1. General1. General

1.1 The Lova wallet service is provided by the company "Digital Money Transfer" d.o.o. Banja Luka, Ulica Braće Pantića 2, 78000 Banja Luka, JIB: 4404319930009 (hereinafter referred to as "wewe" or the "IssuerIssuer" or the "Payment Service ProviderPayment Service Provider" or "LovaLova"), which issues electronic money in accordance with the approval of the Banking Agency of Republika Srpska ("the Agency"), number: 03-282-12/25 dated 29.04.2025.1.1 The Lova wallet service is provided by the company "Digital Money Transfer" d.o.o. Banja Luka, Ulica Braće Pantića 2, 78000 Banja Luka, JIB: 4404319930009 (hereinafter referred to as "" or the "" or the "" or ""), which issues electronic money in accordance with the approval of the Banking Agency of Republika Srpska ("the Agency"), number: 03-282-12/25 dated 29.04.2025.

1.2. The Lova wallet is a service within the Lova mobile application (Lova applicationLova application), where the service user stores electronic money for conducting transactions and/or purchasing goods and services (hereinafter referred to as the “Account”“Account” )). For the purpose of these General Terms and Conditions, a User is a person who has opened an Account and accepted these General Terms and Conditions as part of the contractual relationship (“UserUser”).1.2. The Lova wallet is a service within the Lova mobile application (), where the service user stores electronic money for conducting transactions and/or purchasing goods and services (hereinafter referred to as the . For the purpose of these General Terms and Conditions, a User is a person who has opened an Account and accepted these General Terms and Conditions as part of the contractual relationship (“”).

1.3. These General Terms and Conditions govern all aspects related to the Lova wallet service, specifically the opening, use, and closing of the Account, as well as the issuance and withdrawal of electronic money from the Account. These General Terms and Conditions also constitute an agreement between us, as the electronic money issuer and Account service provider, on one hand, and the User, on the other hand ("the Agreement").1.3. These General Terms and Conditions govern all aspects related to the Lova wallet service, specifically the opening, use, and closing of the Account, as well as the issuance and withdrawal of electronic money from the Account. These General Terms and Conditions also constitute an agreement between us, as the electronic money issuer and Account service provider, on one hand, and the User, on the other hand ("the Agreement").

1.4. Issuer's Contact Details:1.4. Issuer's Contact Details:

e-mail: info@lova.bae-mail: info@lova.ba

phone: +387 51 981 444phone: +387 51 981 444

1.5. User registration and Account usage are carried out within the Issuer's Lova application, whereby the User confirms that they have read and accept these General Terms and Conditions before using the service.1.5. User registration and Account usage are carried out within the Issuer's Lova application, whereby the User confirms that they have read and accept these General Terms and Conditions before using the service.

The current version of these General Terms and Conditions is available on our website https://lova.ba https://lova.ba (“WebsiteWebsite”) under “General Terms and Conditions – Lova wallet”.The current version of these General Terms and Conditions is available on our website (“”) under “General Terms and Conditions – Lova wallet”.

1.6. In cases where the Lova wallet is used for services related to Lova voucher and/or Lova top-up, certain rights and obligations not regulated by these General Terms and Conditions are alternatively governed by the General Terms and Conditions for Lova voucher and Lova top-up (available at: https://lova.ba/https://lova.ba/ – Please read these terms if you intend to use Lova voucher or Lova top-up). In case of disagreement between these General Terms and Conditions and the General Terms for issuing Lova voucher and Lova top-up, these General Terms and Conditions shall prevail with respect to the Account.1.6. In cases where the Lova wallet is used for services related to Lova voucher and/or Lova top-up, certain rights and obligations not regulated by these General Terms and Conditions are alternatively governed by the General Terms and Conditions for Lova voucher and Lova top-up (available at: – Please read these terms if you intend to use Lova voucher or Lova top-up). In case of disagreement between these General Terms and Conditions and the General Terms for issuing Lova voucher and Lova top-up, these General Terms and Conditions shall prevail with respect to the Account.

1.7. Intellectual property rights related to the Lova application, as well as the entire ICT solution (“SoftwareSoftware”) are the property of the Issuer and/or its suppliers. Any copy of all or part of the Software that may be created by a third party, authorized or unauthorized, is also the property of the Issuer and/or its suppliers.1.7. Intellectual property rights related to the Lova application, as well as the entire ICT solution (“”) are the property of the Issuer and/or its suppliers. Any copy of all or part of the Software that may be created by a third party, authorized or unauthorized, is also the property of the Issuer and/or its suppliers.

1.8. The Issuer permits the use of the Software exclusively in accordance with these General Terms and Conditions. The Issuer reserves all rights not expressly granted by the General Terms and Conditions. The General Terms and Conditions grant users the right to use the Software, but they do not acquire ownership rights to the Software. The User may not make unauthorized copies of the Software.1.8. The Issuer permits the use of the Software exclusively in accordance with these General Terms and Conditions. The Issuer reserves all rights not expressly granted by the General Terms and Conditions. The General Terms and Conditions grant users the right to use the Software, but they do not acquire ownership rights to the Software. The User may not make unauthorized copies of the Software.

2. Account2. Account

2.1. Account means an electronic wallet within the Lova application where electronic money is stored in digital form. The purpose of the Account is to store electronic money, make payments, send and receive funds, as well as to use the Account in other ways determined by the Issuer.2.1. Account means an electronic wallet within the Lova application where electronic money is stored in digital form. The purpose of the Account is to store electronic money, make payments, send and receive funds, as well as to use the Account in other ways determined by the Issuer.

2.2. Electronic money stored in the Account is electronic money as defined by the Law on Electronic Money of the Republic of Srpska, which may be amended from time to time (hereinafter referred to as the "Electronic Money Law").2.2. Electronic money stored in the Account is electronic money as defined by the Law on Electronic Money of the Republic of Srpska, which may be amended from time to time (hereinafter referred to as the "Electronic Money Law").

2.3. The rights of the electronic money holder and the right to use the Account belong exclusively to the User who opened the Account.2.3. The rights of the electronic money holder and the right to use the Account belong exclusively to the User who opened the Account.

2.4. Electronic money in the Account has unlimited validity, and the User may dispose of it as long as the Account is active. Users are not entitled to interest on electronic money in the Account.2.4. Electronic money in the Account has unlimited validity, and the User may dispose of it as long as the Account is active. Users are not entitled to interest on electronic money in the Account.

2.5. The Account is not a bank account, and funds in the Account are not included in the deposit insurance system established by regulations on depositors' rights. By accepting these General Terms and Conditions, you confirm that the Account is not subject to the Law on Deposit Insurance in Banks of Bosnia and Herzegovina, as it may be amended from time to time, as well as other laws and regulations of the Republic of Srpska and/or Bosnia and Herzegovina governing deposit insurance with credit institutions. Funds in the Account are protected in accordance with the Law on Electronic Money of the Republic of Srpska.2.5. The Account is not a bank account, and funds in the Account are not included in the deposit insurance system established by regulations on depositors' rights. By accepting these General Terms and Conditions, you confirm that the Account is not subject to the Law on Deposit Insurance in Banks of Bosnia and Herzegovina, as it may be amended from time to time, as well as other laws and regulations of the Republic of Srpska and/or Bosnia and Herzegovina governing deposit insurance with credit institutions. Funds in the Account are protected in accordance with the Law on Electronic Money of the Republic of Srpska.

2.6. Your account is denominated in BAM currency according to the assigned service usage area and regulatory permit. If the payment recipient or place of payment executes a transaction in a currency different from the Account's currency, the currency will be converted according to the rules of the payment recipient or place of payment, over which the Issuer has no influence and for which it is not responsible.2.6. Your account is denominated in BAM currency according to the assigned service usage area and regulatory permit. If the payment recipient or place of payment executes a transaction in a currency different from the Account's currency, the currency will be converted according to the rules of the payment recipient or place of payment, over which the Issuer has no influence and for which it is not responsible.

2.7. The User has the right, within a reasonable period after submitting a request, to obtain from the Issuer all available data regarding transactions performed under the contractual relationship, as well as the Account balance, the date of receipt or transfer (debit or value date), fees charged and, where applicable, the exchange rate used. To achieve this, the Issuer will use the transaction history available in the Transaction Information section of the User's Account.2.7. The User has the right, within a reasonable period after submitting a request, to obtain from the Issuer all available data regarding transactions performed under the contractual relationship, as well as the Account balance, the date of receipt or transfer (debit or value date), fees charged and, where applicable, the exchange rate used. To achieve this, the Issuer will use the transaction history available in the Transaction Information section of the User's Account.

3. Terms3. Terms

3.1. By registering to use the Account, the User guarantees and confirms that they are authorized to do so and that by registering to use the Account, they do not violate regulations and/or other orders of competent authorities of the state whose laws apply to their rights and obligations. Otherwise, the User is responsible for any damage that may arise from unauthorized use of the service.3.1. By registering to use the Account, the User guarantees and confirms that they are authorized to do so and that by registering to use the Account, they do not violate regulations and/or other orders of competent authorities of the state whose laws apply to their rights and obligations. Otherwise, the User is responsible for any damage that may arise from unauthorized use of the service.

3.2. When opening an Account within the Lova application, the Issuer establishes and verifies the User's identity, and for this purpose has the right to request data and documents from the User, as well as to conduct additional checks of the User and the Account in accordance with applicable regulations and internal policies.3.2. When opening an Account within the Lova application, the Issuer establishes and verifies the User's identity, and for this purpose has the right to request data and documents from the User, as well as to conduct additional checks of the User and the Account in accordance with applicable regulations and internal policies.

3.3. During the registration process for using the Lova wallet service, the User must provide appropriate valid identification documents issued by a competent authority and accepted by the Issuer, proof of residence no older than 3 (three) months, and a bank account in the User's name. Documents are submitted as a recording as part of the remote electronic identification procedure, which the Issuer conducts directly using the Lova application. Furthermore, as part of the remote identification procedure, the Issuer electronically verifies the User's identity against the submitted identification document.3.3. During the registration process for using the Lova wallet service, the User must provide appropriate valid identification documents issued by a competent authority and accepted by the Issuer, proof of residence no older than 3 (three) months, and a bank account in the User's name. Documents are submitted as a recording as part of the remote electronic identification procedure, which the Issuer conducts directly using the Lova application. Furthermore, as part of the remote identification procedure, the Issuer electronically verifies the User's identity against the submitted identification document.

3.4. By accepting these General Terms and Conditions, the User agrees to participate in the remote electronic identification process and agrees that the Issuer will create and store recordings made during the video identification process, all for the purpose of protecting the User's integrity and their electronic money, as well as payment transaction security and compliance with other relevant regulations. The User hereby confirms awareness that identity verification procedures are necessary for compliance with regulations and procedures for preventing money laundering and terrorist financing.3.4. By accepting these General Terms and Conditions, the User agrees to participate in the remote electronic identification process and agrees that the Issuer will create and store recordings made during the video identification process, all for the purpose of protecting the User's integrity and their electronic money, as well as payment transaction security and compliance with other relevant regulations. The User hereby confirms awareness that identity verification procedures are necessary for compliance with regulations and procedures for preventing money laundering and terrorist financing.

3.5. The User undertakes to provide the Issuer with only accurate, valid, and authentic data and personal documents during the identity verification process and confirms awareness that any other action is illegal.

3.6. The Issuer has the right at any time, before, during, and/or after successful registration, to request additional information and documents from the User, and the User's refusal to provide the requested information is grounds for interrupting the registration process, i.e., terminating this agreement.

3.7. The User must have a smartphone with Internet access that supports the installation of the Lova application, receiving notifications and SMS messages (this option can be disabled on the mobile phone; the User is obliged to enable it to ensure full application functionality), with the ability to use either iOS or Android operating systems. The provision of mobile telephony services (which may be chargeable) is not subject to this Agreement. The Issuer is not responsible for any errors in the operation of the Lova application that may result from the use of different and inadequate mobile devices and operating systems.

3.8. The User may open only one Account, which must be in the User's name and can be used exclusively for the User's personal needs. The User may not open an Account in their name for a third party and/or open an Account to be used for the needs of a third party. The User is not authorized to transfer the Account to a third party, nor to allow a third party to use the Account in any way, and any action contrary to this provision will be considered misuse, in which case the User is liable to the Issuer for any damages incurred, and the Issuer reserves the right to temporarily or permanently block the Account and terminate the agreement extraordinarily.

3.9. The User must not use the Account for illegal purposes, including carrying out transactions and/or paying for goods and/or services that are defined as a criminal offense and/or misdemeanor by law in the country of which the User is a citizen and/or where they are located at the time of the transaction and/or to which the transaction is directed. The User bears full responsibility in case of illegal use of the Account.

4. Account Registration, Usage, and Closure

4.1. To use the Account service, you must first download the Lova application and complete the registration procedure in accordance with Article 3 of these General Terms and Conditions. As part of the registration process, the User must confirm that they have read and accept these General Terms and Conditions, thereby irrevocably submitting an application for Account opening and establishing a business relationship electronically.

4.2. During registration, the User will be asked to select protective security data for opening and using the Lova application and for secure access to the Account. All instructions regarding the registration process are displayed within the Lova application during the User's data registration and verification process.

4.3. The business relationship between the User and the Issuer is considered established upon confirmation of the received data and successful verification of the User's identity, thereby enabling full functionality of the Lova application and Account usage. The Issuer reserves the right to refuse to carry out the profile verification process and establish a business relationship and/or to limit the User's service functionality based on legal obligations or specific circumstances of the case.

4.4. Regardless of whether the conditions specified in this article are met, the Issuer reserves the right, in accordance with Article 14, paragraphs 4 and 5 of the Law on Prevention of Money Laundering and Financing of Terrorist Activities ("Official Gazette of BiH, No. 13/24), to refuse to open an Account and conclude an agreement with the person who submitted the request for account opening, and is not obliged to provide reasons for such a decision.

4.5. By installing and using the Lova application, the User has agreed:

  •      that the Lova application accesses mobile device data and the camera, all for the purpose of facilitating User convenience;
  •      that the application uses access to geolocation services on the smartphone, all for the purpose of facilitating User convenience;
  •      to receive occasional notifications from the Issuer and/or its partners, all in good faith via the Lova application itself, SMS, and/or email;

4.6. At any time after opening the Account, you may close the Account free of charge by contacting the Issuer's Customer Service ("Customer Service"). However, if electronic money is stored in the Account, you will need to request a full redemption of the electronic money. Transactions and transaction fees incurred before the account closure (including transactions initiated but not completed before account closure) will not be revoked, and you are obliged to settle them.

4.7. The Issuer may refrain from carrying out identification actions and measures if all the following conditions are met:

1) a monthly threshold for payment transactions of 300 KM that can be used exclusively in BiH;

2) if the maximum amount of stored electronic money does not exceed 300 KM;

3) the payment instrument is used exclusively for the purchase of goods or services;

4) if the amount paid does not exceed 100 KM;

5) if the redemption of electronic money was not performed with cash;

5. Account Top-up

5.1. After opening an Account, you can deposit money into your account in one of the following ways:

5.1.1. By depositing cash with the Issuer's electronic money distributors

Cash deposits can be made through authorized distributors of the Issuer's electronic money, using a Lova voucher or Lova top-up. After confirmation of the payment transaction, the amount of electronic money becomes available in the User's Account, equal to the cash received, minus the corresponding commission.

A list of locations where cash deposits can be made is available on the official website: www.lova.ba.

5.1.2. By paying with a payment card directly in the Lova application

In the Lova application, you can only link and use payment cards for which you are an authorized user. By using the card, you guarantee that you have the right to use it. Otherwise, you bear full responsibility for any damage caused by unauthorized use of the card.

Electronic money is issued immediately upon receipt of confirmation of a successfully executed transaction from the payment acceptance service provider.

5.1.3. Payment by bank transfer

When depositing funds into the Account via bank transfer, the User is responsible for correctly and completely entering the payment details displayed to the User in the Lova application (amount, account number, and reference number). Without the correct entry of all data, the Issuer is unable to top up the User's account. The order placed by the User is executed by the bank where the User has an open bank account, and it may take some time for the amount to become visible in the Account. The method and conditions for executing payment orders are prescribed by the User's bank. Depending on the User's bank, the execution of this order can take several minutes, hours, or even several days, and is entirely dependent on the User's bank. The Issuer has no influence over the procedure, method, or timing of payments by the bank. Deposited funds will be available in the User's Account no later than the next business day after the Issuer receives the funds with accurate and complete data. In case of receiving funds with incomplete or incorrect data that makes it impossible to identify the User's Account, the Issuer will return the funds to the payer within 14 days from the date of receipt by the Issuer. The Issuer reserves the right to charge all banking fees and costs incurred by the bank in connection with the said payment and the return of the received amount.

5.2. The Issuer sets initial limits and reserves the right to manage payment limits on the Account, maintaining them in accordance with regulations governing payment transactions, prevention of money laundering and terrorist financing, as well as other relevant regulations. The Issuer is not obliged to explain limit management to the User. Related transactions are also monitored, and the Issuer reserves the right to conduct additional checks, make calls, and withhold the execution of payment transactions on the Account.

5.3. The Issuer monitors the average cash balances in the Account and the average value of transactions, and the Issuer reserves the right to contact the User for additional checks when a discrepancy in the Account balance is observed, and the Issuer reserves the right to temporarily block the Account until all necessary checks are performed to protect funds and comply with the law.

5.4. The Issuer reserves the right to expand the options for topping up the Account and will inform the User of any changes through one of the open communication channels in an appropriate manner.

6. Redemption

6.1. The User may at any time request the redemption of electronic money in the Account at its nominal value, in whole or in part, if redemption is requested before the termination of the contract.

6.2. If the User wishes to redeem funds from the Account, the User must create a Payout order in the Lova application. Redemption is made to a bank account opened in the User's name, which the User has provided. Redemption can also be made through distributors. To fulfill legal obligations, we may request other data from the User before processing the redemption. The redemption of the remaining amount will be processed after all necessary data has been provided, and after other legal conditions for payout have been met. The redemption fee is determined by the Price List and is charged in the following cases:

  1. if the contract specifies a validity period, and the User cancels the contract before the expiration of such validity period;
  2. if you request redemption before the termination of the contract, except in the case specified in point 1 of this paragraph, or
  3. if redemption is requested after the expiration of one year from the date of termination of the contract.

7. Payment

7.1. The User may use the electronic money in the Account for payments in online stores and/or points of sale ("Stores") that accept electronic money issued by the Issuer. Payment is subject to the Store's terms and conditions for accepting payments as stated on that Store's website. You can only make payments if you have a sufficient amount in your account to execute the transaction.

7.2. Payments may be limited depending on the Stores, the User's age, and the Account status. The Issuer does not guarantee that the Account will be available as a payment method for all Stores at all times.

7.3. The User can initiate payment at a Store that accepts payment from the Account:

  1. a) by selecting the "Lova payment" option on the Store's website or mobile application, and
  2. b) at a physical point of sale by informing the cashier that payment will be made via the Lova wallet.

7.4. In the case of 7.3. a), the User will select "Lova payment" on the Store's website or mobile application, after which a QR code will appear, which the user will scan via the Lova app or enter their Account ID. After scanning the QR code, a pre-filled payment order opens for the user, along with the option to choose which e-wallet they wish to pay with. The User then authorizes the order by clicking the "Pay" button, thereby giving consent for the execution of the payment transaction and digitally signing the order to prove the irrevocability of the payment. If the user chooses the second option and enters their Account ID, after clicking the "Pay" button on the Merchant's website, a payment request will appear in the Lova app for the User, which the User can accept or reject. Only after the User confirms the transaction, the transaction is digitally signed and executed. The Issuer will execute the payment immediately upon receipt of the payment order, meaning you can no longer revoke the order once it has been confirmed.

7.5. In the case of 7.3. b), the User will inform the cashier at the point of sale that payment will be made via the Lova app. The cashier can show the User a QR code from their smart POS terminal screen or their fixed QR code, which the user scans. Then, a pre-filled payment order opens for the user, and the user authorizes it in the same way as under 7.4. For a fixed QR code, the user must also enter the amount from the fiscal receipt before authorizing the order. Instead of a QR code, the cashier can ask the user for their Account ID number, after which a payment request will appear in the Lova app for the User, which the User can accept or reject. Only after the User confirms the transaction, the transaction is digitally signed and executed. The Issuer will execute the payment immediately upon receipt of the payment order, meaning you can no longer revoke the order once it has been confirmed.

7.6. The Issuer may introduce additional security measures to confirm payments, in order to protect the Account from unauthorized transactions. The User must comply with the security procedures as instructed by the Issuer.

7.7. Rejection of Payment Orders: The Issuer will reject payment in the following cases:

  1. the execution of the transaction would violate provisions of domestic or international law, or orders issued by competent administrative or judicial authorities, or there is reasonable suspicion that the execution of the transaction would constitute a misdemeanor or a criminal offense and/or the transaction is prohibited on other grounds;
  2. to prevent money laundering and terrorist financing;
  3. if access data and/or security parameters are not provided or the provided parameters are incomplete;
  4. if the account is blocked, or
  5. if there are insufficient funds in the account to execute the transaction.

7.8. In the event that a transaction is rejected, the User will immediately receive an appropriate notification via the Lova app and the email address with which the User opened the Account.

8. Failed or Irregular Payments

8.1. In the event that the Lova app delays the execution of a transaction for which the User has given us a valid instruction, the User may request that we contact the payment service provider of the payee and request that the payment be executed as if the payment was received on the correct day.

8.2. If, in accordance with the law, the Issuer is responsible for the execution of a payment transaction initiated by the User as the payer, it is obliged to immediately refund the User the amount of the unexecuted or improperly executed payment transaction, and if the User's Account has been debited, to restore the Account to the state it would have been in had the payment transaction not been executed, unless it is proven that the payment service provider of the payee received the amount of the intended payment.

8.3. The Issuer is not responsible for the non-execution or improper execution of a payment transaction if the payment order was executed in accordance with the unique identification code or email of the recipient entered by the User (e.g., entering a wallet ID number).

8.4. The User has the right to request a refund of fees charged or withdrawn from the Account, which relate to a confirmed transaction that was not executed or was improperly executed.

8.5. The User is obliged to notify the Issuer without delay of any unexecuted, improperly executed, or delayed payment transaction as soon as they become aware of it.

9. Third-Party Service Providers

9.1. The User may:

  1. to be informed about the Account balance, instruct a third-party service provider to access information on their Account; or
  2. to execute payments from the Account, in case the Issuer provides Users with the ability to issue payment orders from the User's Account, instruct a third-party service provider to access information on their Account.

9.2. The Issuer considers an instruction from a third-party service provider to have been received from the User. The User must not provide their security credentials to a third party.

9.3. The Issuer may deny a third party access to the User's Account in case of suspicion or risk of unauthorized or fraudulent access by that third-party service provider. Before doing so, the Issuer will notify the User to explain the reasons, unless it is impractical, in which case the Issuer will notify the User immediately. In both cases, the Issuer will communicate this to the User in the manner it deems most appropriate under the circumstances. The Issuer will not disclose the reasons to the User if doing so could compromise reasonable security measures or otherwise be unlawful.

9.4. The Issuer may allow a third-party service provider a specific method of accessing the User's account. If it does so and the third-party service provider attempts to access the Account in a different way, the Issuer may disable that access.

9.5. If the User believes a payment was incorrect or unauthorized, they must notify the Issuer as soon as possible, even if the User is using a third-party service provider.

10. Receiving Payments

10.1. Merchants may enable the deposit of funds into the User's account. The User can initiate a transaction by selecting the "Lova payment" option on the Merchant's website, in which case the Merchant's payment terms apply. As soon as the Merchant makes the payment, the deposited amount will be transferred to the User's account (minus Merchant fees, if applicable). Payments received from the Merchant will be displayed in the User's account transaction history along with the receipt date (payment date), the fee charged, and, if applicable, the exchange rate used. Each transaction has a unique transaction ID and is displayed in the transaction history. The Issuer does not modify the data displayed in the transaction history. You will be able to regularly reconcile incoming payments with your own records.

10.2. Receiving a payment will not be possible if:

  1. The User's account is blocked or does not have the required status to receive payments; or
  2. The Merchant is not authorized to make payments to the User's account.

10.3. If the Merchant's payment request is rejected, the User will be immediately notified via the Lova app.

10.4. Each transaction has a unique transaction ID and is displayed in the transaction history. Please provide this transaction ID when communicating with us about a specific transaction. Regularly check your account balance. Please report any irregularities or clarify any questions you may have as soon as possible through Customer Service.

11. Bill Payment via Lova Wallet

11.1. Within the Lova wallet, the User has the option to pay bills and Merchants with electronic money using a QR code. Payment orders are generated by scanning the QR code. The User undertakes to use this service exclusively for valid and lawful payments in accordance with relevant regulations and these General Terms and Conditions.

11.2. Upon execution of a bill payment order, the User receives a payment confirmation in the Lova application in electronic form, which can be viewed at any time within the Lova application. The payment service provider will make the payment to the payee in accordance with the payer's (User's) instructions. The payment service provider undertakes to credit the payee on the same business day, and no later than the end of the next business day, counting from the moment of receiving the payment order, i.e., the execution of the payment within the Lova application. If the order cannot be executed, the User will receive a notification in the Lova application, as well as an indication of the unsuccessful transaction in the transaction list.

11.3. For bill payments via the Lova wallet, the Issuer charges a fee for using this service in the amount specified in the Price List, which is charged directly and in full from the Account on the day of transaction execution, i.e., transaction authorization, and the available balance on the Account is reduced by the amount of the fee.

12. Cash Payouts

12.1. The Issuer enables cash payouts of electronic money stored in the Account. Cash payouts can be made at the payout locations of partners/distributors who have a contract with the Issuer. A list of partners is available on the Issuer's website.

12.2. The Issuer sets initial limits and reserves the right to manage withdrawal limits from the Account, maintaining them in accordance with regulations governing payment transactions, prevention of money laundering and terrorist financing, as well as other relevant regulations. The Issuer is not obliged to explain limit management to the User. Related transactions are also monitored, and we reserve the right to conduct additional checks, inquiries, and to withhold the execution of payment transactions from the Account.

12.3. For cash withdrawals at partner/distributor payout locations, the Issuer charges a fee for using this service in the amount specified in the Price List, which is charged directly and in full from the Account on the day of transaction execution, i.e., transaction authorization, and the fee amount is deducted from the available account balance.

12.4. Payout Process: The User can use the cash payout service by sending an order to the Issuer via the Lova application. After the User sends a cash payout order for a specific amount to the Issuer, the Issuer checks the Account balance, and if there are sufficient funds in the Account to cover the requested amount and associated fees, the User will immediately receive an in-app notification in the form of a one-time 6-digit short-term numerical code, QR code, or barcode, which the User presents at the payout location of a partner/distributor contracted with the Issuer and performing cash payouts. Funds will be available for payment immediately upon receipt of the 6-digit code or QR code/barcode.

12.5. If the payout is made at the payout locations of contractual partners, then the 6-digit short-term numerical code/QR code/barcode is shown to the employee of the contractual partners at the payout location. In addition to the 6-digit short-term numerical code/QR code/barcode, the employee may also ask you for an identification document (ID card or passport). If you do not present an identification document upon the employee's request, the employee will refuse the payout.

12.6. A payment transaction initiated by the user using the obtained 6-digit code/QR code/barcode is considered authorized after it is presented at the payout location and a successful payout slip is received.

12.7. In the event that a distributor's payout location does not have sufficient funds for the requested payout amount, then the payout will not be possible. The Issuer is not responsible if the payout location does not have banknotes for the amount the User requested, whether due to an excessively large amount or an amount that cannot be paid out due to a lack of funds in the appropriate denomination, and is not responsible for the availability and proper functioning of payout locations.

13. Payout to Bank Account

13.1. The User may use electronic money stored in the Account for payouts to bank accounts that are registered and verified in the Lova application.

13.2. The Issuer sets initial limits and reserves the right to manage payouts to bank accounts, maintaining them in accordance with regulations governing payment transactions, prevention of money laundering and terrorist financing, as well as other relevant regulations. The Issuer is not obliged to explain limit management to the User. Related transactions are also monitored, and we reserve the right to conduct additional checks, inquiries, and to withhold the execution of payment transactions to bank accounts.

13.3. For payouts from the Lova wallet to a bank account, the Issuer charges a fee for using this service in the amount specified in the Price List, which is charged directly and in full from the Account on the day of transaction execution, i.e., transaction authorization, and the available balance on the Account is reduced by the amount of the fee.

13.4. Payout Process: Within the Lova application, the User must select a bank account that has been entered and verified in the Lova mobile application to which the payout will be made. The User then independently initiates the transaction electronically from the mobile application by defining the payment amount within the available limits and confirming the transaction's execution.

13.5. The order placed by the User is executed by the bank where the Issuer has an open bank account. Upon receiving a payment order from the User, the Issuer issues a payment order for the same amount to the bank where it holds an account. The method and deadlines for executing payment orders are determined by the Issuer's bank. Depending on the Issuer's bank, the execution of this order may take several minutes, hours, or even several days, and is entirely dependent on the Issuer's bank. The Issuer has no influence over the bank's payment procedure, method, or dynamics. The Issuer executes User orders on a daily basis, on working days.

14. Account Security Settings

14.1. The User is obliged to ensure that the data stored in connection with the Account is always accurate and up-to-date. The User is obliged to promptly inform the Issuer of any change in personal data or change in data in documents previously submitted to the Issuer. The User is responsible for any damage that may arise due to a breach of this provision of the General Terms and Conditions.

14.2. The Issuer is authorized at any time to verify the accuracy and timeliness of personal data stored in connection with the User, exclusively by requesting the User to submit valid proof.

14.3. To maintain the security level of the Account, the Issuer is authorized to contact the User by sending an email message to the email address stored in the user section or via SMS or otherwise to the stored mobile phone number.

14.4. The User is obliged to ensure the availability of the stored email address and mobile phone number and is obliged to immediately retrieve and read every message sent to them by the Issuer to prevent unauthorized use of the Account.

14.5. If the Issuer believes there is a risk of fraud or a threat to the security of the user account or the overall security of the Lova service, the Issuer will use the fastest and safest way to contact the User using the contact details provided by the User, in order to inform them about what they need to do to help resolve these risks.

14.6. The use of the Account is limited to the amount available in the Account at the time of transaction confirmation, reduced by the amount of applicable fees.

15. User's Obligation to Keep Data Confidential and Actions in Case of Loss, Theft, or Misuse

15.1. The User is obliged to protect their mobile phone with the Lova application and the access data for the application (PIN, pattern, biometric authentication) from unauthorized use by third parties. The User is responsible for damages that may arise due to negligence regarding the protection of the mobile phone and the Lova application, and for violating the provisions of this article and other provisions of the General Terms and Conditions.

15.2. The User's security obligations are at least the following:

  •      Exercise increased caution when protecting access to the mobile device on which the Lova mobile application is located and access to the Lova mobile application itself with a confidential password known only to the User;
  •      Be especially careful in protecting assigned or selected personalized security credentials to prevent their loss, theft, misuse, or unauthorized disclosure.

For example, voluntarily disclosing or making available assigned or selected personalized security credentials to a third party is considered an act contrary to the duty of due care, and in such a case, the User bears the risk and resulting damage, and is also responsible for damage that may be incurred by the Company.

  •      The User shall under no circumstances forward or otherwise make available personalized security credentials via email, websites, or any other means, nor shall they open, forward, or reply to emails or SMS messages that appear to come from Lova. The User confirms that they are aware that any email message originating from Lova will be sent exclusively from the official Lova email address ending with @lova.ba and that Lova employees will never ask the User to disclose or provide (verbally or in writing) any credentials, including PINs, activation codes, and the like;
  •      The User will not open email messages, attachments, and links that are not expected from the lova.ba domain;
  •      The User shall be careful about the websites visited from devices accessing the Lova application, as accessing some websites involves an increased risk of infecting computers, mobile, and other devices with malicious software;
  •      The User must not make unauthorized modifications to devices used as a means of identification/authorization and/or mobile devices (for example, root, jailbreak);
  •      If the User has activated biometric authentication on their Device used as a means of identification/authentication, the User must ensure that only the User's biometric data is stored on the same Device used as a means of identification/authentication at all times, as any registration via any biometric authentication method will be considered performed by the User, as well as all orders that may have been executed after such registration, and the User assumes full responsibility for all such resulting damage.

15.3. All User and security data for accessing the Lova application, i.e., the Account, are confidential to Users and, as such, must not be disclosed to third parties. Transaction data is automatically synchronized with the User's mobile applications, and the Issuer is not responsible in the event of unauthorized disclosure of such data to third parties or in cases of theft or loss of the User's mobile phone. In such a case, Users are obliged to immediately contact the Issuer's Customer Service, which will immediately block the user account, and in such a case, the Issuer may allow re-registration for the use of the Account service to those Users at their initiative.

15.4. In the event that access data or security parameters are lost, stolen, misused, or used in any unauthorized manner, the User is obliged to contact the Issuer by phone without delay from the moment they became aware or should have become aware (the customer service phone number is available on the website www.lova.ba). Any delay in notifying the Issuer may affect the security of the User's Account and result in the User's liability for all losses if the delay in notification is due to intent or gross negligence. If the User suspects that someone else has accessed their Account, or if they suspect other misuse, they should also immediately contact the police.

15.5. The Issuer does not guarantee the delivery or relevance of any goods or services paid for via the Account. The Issuer is not authorized and will not participate in negotiations, progress, and/or disputes in business relationships between merchants and Users. The Issuer facilitates electronic money payments, and its duty is to enable payments in accordance with obligations prescribed by law and other regulations. Users have the right to define the nature of their business relationship on the basis of which the transaction is prepared and paid. If a User suspects misuse or any other illegal circumstance, they are obliged to report it to the competent institutions and initiate appropriate procedures. The Issuer is available to all competent institutions.

16. Fees and Exchange Rates

16.1. The Issuer does not charge fees for opening, activating, and maintaining the Account, nor for checking the Account balance.

16.2. After electronic money has been issued by its issuer in an amount equal to the monetary value received, in the event of a subsequent change of holder of already issued electronic money at the request of its holder, the Issuer may charge a fee for changing the holder of the already issued electronic money.

16.3. The Issuer may charge a fee for payments from the Account to certain Merchants. These fees will be displayed to the User before payment confirmation. Merchants have the right to charge a fee for this form of payment, but this is a direct business relationship between the User and the Merchant and has no connection with fees charged by the Issuer.

16.4. For some services, the Issuer determines fees in accordance with the Price List. The Price List is available on the company's website www.lova.ba under the name "Commissions".

16.5. Should there be a change in the amount or application of individual fees related to the Account after these General Terms and Conditions come into effect, the Issuer will timely inform the User in an appropriate manner.

16.6. For currency conversions performed by the User within the Lova application, the Issuer's exchange rate, which is available directly in the Lova application during conversion, shall apply.

17. Account Blocking

17.1 The Issuer may block the User's Account or otherwise restrict its use for reasons related not only to the security of the account or any of its security features, but also if it reasonably suspects unauthorized or fraudulent use of the User's Account or that any security features of the Lova account or Lova service are generally compromised, as well as in the event of a breach of any of the provisions of these General Terms and Conditions and/or relevant regulations.

17.2 Where possible, the User will be informed of any blocking or restrictions on Account use. The Issuer is not obliged to explain the reasons for blocking or restricting Account use if it has reason to believe that doing so could affect the security interests of the Issuer or the User, or could impact the enforcement of measures and actions by competent authorities.

18. Issuer's Responsibility

18.1. The Issuer does not guarantee that Merchants will accept payment from the Account or that the Issuer will approve a specific transaction. This situation may arise due to circumstances within the Issuer's or a third party's system, something beyond the Issuer's reasonable control, or because the Issuer suspects misuse of the Account.

18.2. The Issuer is not responsible if a Merchant refuses to accept payment from the Account, nor if the Issuer refuses to approve a transaction, or cancels or suspends the use of the Account to the extent permitted by these General Terms and Conditions and the law.

18.3. Unless otherwise provided by law, the Issuer will not be liable for any direct or indirect loss or damage that the User might suffer as a result of full or partial use or inability to use the Account, or its use by a third party. The Issuer will also not be liable for any losses or costs incurred by the User that result from compliance with the Issuer's legal and regulatory requirements.

18.4. If the User does not use the Account in accordance with these General Terms and Conditions, or if the Issuer learns that the User is using the Account without authorization, the Issuer has the right to charge the User for all reasonable costs incurred by the Issuer due to taking actions to prevent the User from using the Account and to recover all funds due to the User's activities.

19. User's Responsibility

19.1. The User shall notify the Issuer without delay if they notice that an unauthorized or incomplete payment has been made via their Account and mobile application. Claims and complaints regarding unauthorized and incomplete payments will be rejected if the User fails to notify the Issuer within 24 (twenty-four) months from the date of the incorrect payment.

19.2. If the User has, or can reasonably be assumed to have, knowledge or suspicion that their Account, mobile phone, access data, or any other security parameter has been lost, stolen, misused, and/or compromised in any other way, the User is obligated to immediately notify the Issuer of the loss or theft of access data, misuse, or unauthorized use of access data and security parameters.

19.3. In the event of an unauthorized payment or a payment incorrectly executed due to our error, the Issuer will, as soon as possible, refund the paid amount including all fees. This does not apply to situations:

  1. if an unauthorized payment results from the User's failure to exercise due diligence and safeguard their mobile phone, and/or access data, or from other user misuse, the User remains responsible for the total transaction amount;
  2. if the User does not promptly notify the Issuer of any loss of a mobile phone, and/or access data, or other event that could reasonably be expected to compromise the security of the user account after the User became aware or could reasonably be assumed to have become aware of such an event, in which case the User remains responsible for all losses until they notify the Issuer;
  3. if the transaction was not authorized, but the User acted fraudulently or intentionally or negligently compromised the security of the Account, in which case the User is solely responsible for all losses; or
  4. if the User does not dispute the transaction and/or does not notify the Issuer of an unauthorized or incorrectly executed transaction within 13 (thirteen) months from the date of the transaction.

19.4. Except in the case of fraud by the User, the preceding paragraph does not apply to transactions executed after the User has notified the Issuer if the Issuer failed to provide the User with adequate means of notification, or if the Issuer should have used strong authentication methods but failed to do so, in which case the Issuer will be responsible and will refund the User all amounts related to the unauthorized transaction as soon as possible.

19.5. Without prejudice to the foregoing, the User undertakes to ensure data security, regularly and frequently review the transaction history on the account, and promptly contact the Issuer's Customer Service with any questions or concerns.

19.6. In the event of any erroneous or misdirected payments, the Issuer will, in accordance with the law, take reasonable measures to assist the User in tracing and recovering the amounts subject to such payments.

19.7. In accordance with the above, the Issuer is not responsible for any deficiency in the operation of its service and/or for a malfunction in the operation of intermediary services on which it relied to fulfill its obligations under these General Terms and Conditions, provided that such deficiency was caused by extraordinary and unforeseeable circumstances beyond the reasonable control of the Issuer or the relevant intermediary.

20. Personal Data Protection

20.1. To ensure the functionality of services within the Lova application, including the use of the Lova wallet, the Issuer may collect the User's personal data such as name and surname, phone number, and email address, as well as copies of personal and other documents ("Personal Data"). The Issuer collects and uses personal data to maintain service functionality, ensure the security of the Account and payments, and provide services to Users, while having an obligation of confidentiality towards these Users and their data. The Issuer protects the User's personal data from unauthorized access, use, or disclosure. Data on computer servers is stored in a controlled, secure environment, protected from unauthorized access, use, or disclosure. The User explicitly permits the Issuer to access, process, and retain all data provided by the user for the purpose of providing payment services to the User. This does not affect the respective rights of the Issuer and the User and legal obligations regarding data protection. The User may withdraw consent by closing the account. If the User withdraws consent in this manner, the Issuer will cease using the User's data for that purpose, but may continue to process data for other purposes for which the Issuer has other legal bases, such as when the Issuer is legally obliged to retain data and transaction records.

20.2. The User's personal data is processed in accordance with applicable regulations. The Issuer controls the User's personal data and uses it in accordance with the needs of service provision. Furthermore, the Issuer uses the User's personal data, along with other data collected or generated during the User's relationship with the Issuer, such as transaction details, transaction history, and similar information, to provide users with the requested services. Read and learn more about data protection from the Privacy Policy available on the website.

20.3. The Issuer will transfer the User's personal data to third parties only if necessary for the execution of transactions and only to those third parties with whom it has a contractual relationship regarding data protection, for the purpose of providing services that the Issuer offers to Users, or to facilitate future transactions or to supplement data with information from publicly available sources. This also helps the Issuer understand and improve the offering of its products and services. The Issuer may also transfer the User's personal data to third parties when reasonably necessary, for the purpose of preventing and detecting criminal offenses, or when required by law. The Issuer stores the User's data, marketing choices, and transaction history based on data retention schedules for no longer than necessary for the purposes for which the data was collected and in accordance with applicable regulations.

20.4. The User has the right to access their data and request a copy thereof, and may correct, delete, or block data that is incomplete, inaccurate, or outdated, unless otherwise stipulated by law. They may also object at any time to the manner in which their data is collected, processed, or used, particularly in cases where processing is not necessary for the provision of the service, or in cases where this right does not arise from law or other regulations.

20.5. The Issuer is responsible for the responsible and legally compliant storage of the User's personal data and for unauthorized or unlawful use of their personal data by the Issuer and all other persons to whom the Issuer has unauthorizedly transferred this data. The User gives explicit consent to the Issuer for the exchange of personal data with third parties or Merchants that is necessary for the realization of the service that the User obtains with the help of third parties or Merchants through the Issuer's services.

20.6. The Issuer will regularly inform users about the Account, data protection, and other important events. By accepting these General Terms and Conditions, the User agrees to receive such information via email, SMS message, or the Lova application. Furthermore, the Issuer will inform the User about promotional campaigns, special conditions, and similar matters if the User has consented to receive such information.

21. Duration and Termination of the Agreement

21.1. The Agreement between the Issuer and the User regarding the use of the Account is concluded for an indefinite period.

21.2. The User may terminate this Agreement at any time by sending an email to the Issuer or through the Lova application by submitting a cancellation request via a Ticket.

21.3. The Issuer is authorized to terminate the contractual relationship by providing 2 (two) months' prior notice via an email message to the email address provided by the User.

21.4. In the event of a material reason, the Issuer may terminate the contractual relationship with the User at any time with immediate effect by sending an email to the email address provided by the User, notwithstanding other provisions (extraordinary termination). Material reasons for immediate termination of the Agreement without a notice period include, but are not limited to, the following situations:

  1. The User has not provided accurate and/or complete identity information, or has concealed other materially significant facts that would influence the Issuer's decision to establish a business relationship;
  2. The User has violated the provisions of these General Terms and Conditions of Business;
  3. There is a suspicion that the User has committed a misdemeanor or a criminal offense or has violated the provisions of regulations in the field of preventing money laundering and terrorist financing;
  4. The User uses the Account in an unlawful and/or illegal manner and/or for unlawful and/or illegal purposes;
  5. There is a suspected threat to security interests, or
  6. The Issuer is obliged to terminate the contract without a notice period for legal reasons.

21.5. Upon the termination of the Agreement becoming effective, the User's account will be blocked. The Issuer will pay the User the amount held in their Account at the time of blocking, less any outstanding payments and fees. In the event of a security threat, funds and/or assets will be blocked. In case of Agreement termination, the User should act in accordance with the redemption provisions. After 6 (six) years from the termination of the Agreement, it will no longer be possible to request the redemption of electronic money from the User's Account.

22. Amendments to the General Terms and Conditions of Business

22.1. The Issuer is authorized to amend and supplement these General Terms and Conditions of Business, provided that the User has been notified of the intended amendment at least 2 (two) months before the effective date of the amendments.

22.2. The Issuer will electronically notify the User of the intended amendment to the General Terms and Conditions of Business at least 2 (two) months before they come into effect. The notification will be sent to the User's email address registered on the Lova application.

22.3. Unless the User submits a written objection before the effective date of the amendments to the General Terms and Conditions of Business, the User will be deemed to have agreed to the amendments, and these changes will become an integral part of the Agreement with the User. If the User does not accept the proposed amendments, they have the right to terminate the Agreement without charge, with such termination taking effect on any date prior to the effective date of the amendments to the General Terms and Conditions of Business. In the communication regarding the changes, the Issuer will warn the User about the consequences of not objecting to the amendments and about the User's right to terminate the Agreement without charge and without a notice period.

22.4. Improvements to the functionality of the service covered by these General Terms and Conditions of Business, the introduction of a new service, or a change in payment methods and/or the Store, which is not materially significant to the User's rights and/or benefits the User, will not be considered a change to the General Terms and Conditions of Business.

23. Transfer of Contractual Obligations

23.1. The Issuer is authorized to transfer its rights and obligations under the Agreement – General Terms and Conditions of Business to a third party at any time, with prior notification to the Banking Agency of Republika Srpska. Such a transfer will not affect the User's rights.

23.2. The Issuer will inform the User of the intended transfer of the contract at least 2 (two) months in advance via an email message to the User's email address registered on the Lova application. The User may terminate the contract with immediate effect before the planned transfer date.

23.3. The User is not authorized to transfer claims against the Issuer to a third party, nor to pledge them, including, but not limited to, claims for amounts from the Account, unless the Issuer specifies otherwise.

24. Notices to Users

The Issuer sends notifications (including legal and business notices) to Users using the contact information provided by the User to the Issuer. The User is obliged to promptly inform the Issuer of any change in address, mobile phone number, or email address. The User can do this by submitting a Data Change Request via a "Ticket" in their account or by contacting Customer Service. The Issuer is not responsible if the User fails to inform them of changes to their contact details.

25. Dispute Resolution

25.1. A complaint is any statement of dissatisfaction sent to the Issuer by a former or current User regarding the provision of services that are the subject of these General Terms and Conditions. Complaints can be submitted in one of the following ways:

  1. by email: prigovor@lova.ba
  2. by mail: Digital Money Transfer Ltd. Banja Luka, Braće Pantića 2, 78000 Banja Luka, Republika Srpska, BiH

25.2. A complaint should contain at least:

  1. User's personal data;
  2. a detailed description of the event/situation or circumstances that caused dissatisfaction, which are the subject of the complaint, and proof of the complaint's validity;
  3. address or email address for delivery of the response to the complaint.

25.3. Lova does not respond to anonymous complaints.

25.4. In accordance with applicable regulations, the Issuer will confirm receipt of the complaint to the User. Inquiries submitted verbally (by phone) are not considered complaints and are, if possible, resolved immediately upon receipt. If a complaint cannot be resolved immediately upon receipt, it is forwarded to the Issuer's organizational unit responsible for handling complaints, depending on the business domain. If the complaint does not contain all necessary data for processing, the complainant will be asked to supplement it. As a rule, the Issuer will provide a response to the complaint in the manner in which the complaint was submitted, or in the manner or to the address specified by the complainant in the complaint.

25.5. The response to a written complaint is sent in written form. In accordance with applicable regulations, the Issuer will respond to the complaint within 10 (ten) days from the date of receipt of the complaint. Exceptionally, if the Issuer cannot provide a response within 10 (ten) days from the date of receipt of the complaint due to reasons beyond its control, it will provide the User with a temporary response within that period, stating the reasons for the delay in responding to the complaint and the deadline by which the User will receive a final response, which will not exceed 35 (thirty-five) days from the date of receipt of the complaint. In the final response to the complaint, we will inform you about the possibility of submitting a complaint to the Banking Agency of Republika Srpska.

25.6. A record of complaints is kept in electronic form and contains data on the complainant, the content and date of submission of the complaint, any amendments to the complaint, and the date of the response to the complaint.

25.7. If you believe, or if another person with a legal interest believes, that we have violated our obligations under the Law on Internal Payment Transactions, or the Law on Electronic Money, you may submit a complaint to the Banking Agency of Republika Srpska as the competent authority.

25.8. Also, if you, as a consumer, have entered into an online sales or services contract with us, you have the right to file a complaint with the Republic Administration for Inspection Affairs and the competent inspection bodies of local self-government units.

25.9. If you have exhausted all the aforementioned legal remedies and the dispute has not been resolved, or the User is not satisfied with the achieved resolution, you may file a lawsuit with the competent court.

25.10. Serbian, Bosnian, Croatian, and English languages will be used for communication between the Issuer and the User.

26. Entry into force

These General Terms and Conditions come into effect on the day the license for electronic money issuance is obtained from the Banking Agency of Republika Srpska. Upon the entry into force of these General Terms and Conditions, the General Terms and Conditions dated September 3, 2021, shall cease to apply.

In Banja Luka, April 22, 2025.

„Digital Money Transfer“ Ltd. Banja Luka

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